Nasdaq Dubai welcomed on Tuesday the listing of $750 million bonds by state-run Emirates Development Bank.
In a statement, Nasdaq said the listing boosts Dubai’s status as the hub for dollar-denominated debt issuances in the Middle East, with a total value of $96.876 billion.
Emirates Development Bank’s five-year bond issuance is priced at a yield of 1.639 percent. It has been four times oversubscribed and generated a strong demand from investors around the world.
“[About] 34 percent of appetite came from MENA markets, 36 percent from European markets, 28 percent from Asian markets and 2 percent from US offshore market,” Nasdaq said.
Last week, Dubai’s largest lender Emirates NBD listed its $750 million Additional Tier 1 (AT1) capital bond on Nasdaq, marking the bank’s second offering for 2021 and raising the total value of its bond listings to more than $5.1 billion.
(Writing by Cleofe Maceda; editing by Seban Scaria)
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