Emirates NBD $750m bond listed on Nasdaq Dubai
Dubai, March 31, 2013
Nasdaq Dubai, the Middle East’s international financial exchange, welcomed the listing today of a $750 million conventional bond issued by the Dubai-based Emirates NBD.
The listing by one of the region’s leading banking groups further expands Dubai’s role as a major listing venue for fixed income securities. It brings the nominal value of conventional bonds and Sukuk (Islamic bonds) on Dubai exchanges to $19.70 billion.
The issue was 3.5 times oversubscribed with more than 160 orders received from regional and international investors. 47% of the bond was allocated to Mena based investors, 28% to investors in Asia and 25% to investors in Europe.
Hesham Abdulla Al Qassim, vice chairman. Emirates NBD, said: “We are pleased to list Emirates NBD Bond on Nasdaq Dubai. The exchange’s international stature gives our bond high visibility, both across the region where our business is focused, and beyond. Listing the bond on Nasdaq Dubai means we also benefit from the support of an international regulatory framework from within the UAE. The listing process was streamlined and attractive to us as an issuer seeking to undertake an international bond issue”.
Abdul Wahed Al Fahim, chairman of Nasdaq Dubai, said: “As the latest in a series of debt issuances and listings in Dubai this year, Emirates NBD’s bond is further evidence that the sector is successfully meeting the capital-raising needs of regional businesses in an expanding economy. Dubai’s capital markets will continue to gain critical mass in both the conventional and Islamic sectors, maintaining their focus on providing excellence for investors through a wide range of financing options”. – TradeArabia News Service
More Finance & Capital Market Stories
- ETF global assets hit record $2.44 trillion
- Bahrain firms plan IPOs
- Serbia wins $1bn Abu Dhabi loan
- Key equity banker resigns from Saudi Fransi
- DMCC to boost Islamic commodity trade with tie-ups
- IDB, KIA units to invest in Morocco
- First Gulf to set up $1bn sukuk in Malaysia
- Singapore’s UOB Bullion and Futures joins DGCX
- Infrastructure investment ‘key to growth’
- BKIC declares 30pc dividend
- StanChart profit falls 16pc in 2013
- Veteran Saudi banker to head AMF
- Dubai World prepays $284m to creditors
- EFG-Hermes sells Damas stake to Mannai
- Ultra rich number to grow 35pc in Mideast
- Saudi IPO market 'set for big year'
- RAK 'exploring' ceramics unit stake sale
- Bahrain Bourse wins key UK award
- Alba backs Euromoney forum
- URC bond rating upgraded to stable outlook
- GCC urged to set up onshore financial centres
- Consolidation push paying off for Bahrain banks
- Mubadala to focus more on US, Europe
- Six banks join plan for shared customer data register
- UAE economy grows 4pc in 2013
- Egypt foreign reserves up to $17.3bn
- StanChart opens second branch in Iraq
- Oil below $90 to hit GCC economies
- Payfort offers zero deposit scheme to SMEs
- In a first, NCB Capital names female CEO