|20 October, 2019

Nasdaq Dubai lists two bonds totaling $1bln by Chinese bank

The two bonds of $500mln each bring the total value of all bonds listed on Nasdaq Dubai by ICBC to $4.56bln from nine issuances.

Image used for illustrative purpose. People attend a ceremony for listing of Nasdaq Dubai at Dubai Financial Market (DFM) in Dubai, UAE September 5, 2016.

Image used for illustrative purpose. People attend a ceremony for listing of Nasdaq Dubai at Dubai Financial Market (DFM) in Dubai, UAE September 5, 2016.

REUTERS/Celine Aswad

DUBAI- Nasdaq Dubai, the international financial exchange in the Middle East, has welcomed the listing of two bonds with a total value of US$1 billion by Industrial and Commercial Bank of China, ICBC, the world’s largest bank by assets.

The two bonds of $500 million each bring the total value of all bonds listed on Nasdaq Dubai by ICBC to $4.56 billion from nine issuances.

This is the highest value of conventional bond listings on the exchange by any overseas issuer. All the bonds were issued by ICBC Dubai (DIFC Branch).

The listings underline the strong financial and economic relationship between Dubai and China, which is the UAE’s largest non-oil trading partner. The two $500 million bonds listed on 17th October, 2019.

© Copyright Emirates News Agency (WAM) 2019.

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