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Emirates NBD lists $750m conventional bond on Nasdaq Dubai

Emirates NBD lists $750m conventional bond on Nasdaq Dubai
The raised proceeds will enable the bank to support its customers
Emirates NBD
EMIRATESNBD
-2.20% 11.10 -0.25

Dubai – Mubasher: Emirates NBD has celebrated the listing of a five-year conventional bond worth $750 million on Nasdaq Dubai, marking the first public debt issuance from the UAE in 2021.

The raised proceeds will enable the bank to support its customers and the UAE economy's comprehensive recovery from the coronavirus (COVID-19) impact, according to a press release on Wednesday.

With a coupon of 1.638%, the lowest on a five-year benchmark transaction from the bank, the conventional bonds have attracted $2.3 billion in orders from more than 140 investors.

Emirates NBD had six listings valued at $4.35 billion on Nasdaq Dubai, making the bank the largest financial services bond issuer on the exchange.

The Vice Chairman and Managing Director of Emirates NBD, Hesham Abdulla Al Qassim, said: "As the UAE prepares for durable economic recovery from the disruption caused by COVID-19, we are delighted to play a role in promoting economic and social wellbeing in line with the effective policies of the national leadership."

Meanwhile, the Chairman of Nasdaq Dubai, Abdul Wahed Al Fahim, remarked: "The exchange is positioned to play a growing role in expanding Dubai’s capital markets leadership in the region and connecting a widening range of issuers and investors."