ADX sees $19bn listed bonds in 9M

SectorFinancial Markets
CountryUnited Arab Emirates

Abu Dhabi - Mubasher: The total value of bonds listed on the Abu Dhabi Securities Exchange (ADX) reached around $19 billion in the first nine months of 2020, the Emirates News Agency (WAM) reported. The surge in the local bonds market reflects Abu Dhabi's objective to have a strong debt securities market that could compete with international markets. In April, Abu Dhabi issued three tranches of medium-term notes worth $7 billion; however, the emirate increased the value of each tranche by $1 billion in May. The ADX also listed $4 billion medium-term notes in August, issued by MDGH GMTN B.V and guaranteed by Mamoura Diversified Global Holding (MDGH), a debt issuing entity of Mubadala Investment Company. It is noteworthy to mention that in early September, Abu Dhabi has more...