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ENBD marks listing of $750m bond at Nasdaq Dubai

DUBAI, January 20, 2021

Hesham Abdulla Al Qassim, Vice Chairman and Managing Director of Emirates NBD (ENBD), rang the market-opening bell at Nasdaq Dubai today (July 20) to celebrate the listing of a $750 million conventional bond.

The bond is the first public debt issuance from the UAE in 2021.  The proceeds raised will assist Emirates NBD, one of the largest banking groups in the region, as it supports customers and the wider UAE economy in achieving comprehensive recovery from the effects of Covid-19.

The five-year bond pays a coupon of 1.638%, the lowest ever coupon on a five-year benchmark transaction from Emirates NBD. The issuance attracted 2.3 billion US dollars in orders from over 140 accounts. Demand was global with 49% of appetite coming from Asia, 35% from Europe, 11% from MENA and 5% from the US and elsewhere.

Hesham Abdulla Al Qassim said: “Our successful issuance of the first public bond out of the UAE in 2021reflects our commitment to support our retail and business customers and strengthen our provision of vital services to enable them to prosper. 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.”

Emirates NBD is further developing its services including retail banking and wealth management, corporate and institutional banking, global markets and treasury and Islamic banking. In particular, it is expanding its pioneering focus on digital banking innovation.   

Essa Kazim, Governor of Dubai International Financial Centre and Chairman of Dubai Financial Market (DFM), said: “The listing of Emirates NBD’s latest bond on the region’s international financial exchange demonstrates the capacity of the UAE’s leading financial services institutions to collaborate effectively in capital markets transactions that benefit investors and strengthen the economy. Dubai will continue to enhance its listing infrastructure on behalf of UAE and overseas issuers and market participants.”

Emirates NBD’s latest $750 million bond listed on Nasdaq Dubai on January 13, 2021. – TradeArabia News Service
 




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