Emirates NBD lists $750m bond on Nasdaq Dubai

SourceGulf Business
SectorFinancial Markets
CountryUAE

Dubai lender Emirates NBD has listed a $750m bond on Nasdaq Dubai, the exchange said in a statement on Wednesday. The latest $750m perpetual bond pays a coupon of 4.25 per cent, the lowest pricing for a conventional Tier 1 bond from the UAE, and the second lowest from the Middle East. The issuance was 2.3 times oversubscribed with a strong demand from the region.

Sixty-four per cent of the demand came from the Middle East, while 12 per cent stemmed from Asia and Europe, 10 per cent from UK and 2 per cent from other regions worldwide. The listing of this Tier 1 Capital bond makes Emirates NBD the largest financial services bond issuer on Nasdaq Dubai through seven listings with a total value of $5.1bn. Dubai is the largest listing venue in the Middle East for US dollar denominated debt listings, with a total value of $93.126 billion. “The success of our latest bond issue reflects...read more...