Dubai – Mubasher: Commercial Bank of Dubai (CBD) has celebrated the listing of a $600 million AT1 conventional bond on Nasdaq Dubai, with an interest rate of 6%.

This is the first bond listing for the bank on the region’s international financial exchange, according to a press release on Wednesday.

Oversubscribed 2.1 times, the six-year bond has attracted investors from the Middle East, Europe, and Asia.

Listed on Nasdaq Dubai on 21 October, the CBD's bond boosts Dubai's position as the largest venue in the Middle East for US dollar-denominated debt listings, with a total value of $87.4 billion. 

The Chief Executive of CBD, Bernd van Linder, said: "The issuance will enable the bank to further support local UAE businesses now and into the future."

The Chairman of Nasdaq Dubai, Abdul Wahed Al Fahim, commented: "CBD’s inaugural bond listing on Nasdaq Dubai underlines the growing role of the exchange in supporting capital-raising initiatives by leading Dubai and UAE entities, as they expand their activities for the benefit of the national economy and promoting prosperity."