Emirates NBD and Emirates Islamic ring Nasdaq Dubai’s market-opening bell

Emirates NBD and Emirates Islamic ring Nasdaq Dubai’s market-opening bell

- The first of their kind issuances from financial institutions support the UAE Ministry of Finance’s efforts to develop the dirham bond and Sukuk markets, increasing funding and investment opportunities for both issuers and investors

- Emirates NBD Group bolsters its position as one of the largest debt issuers on Nasdaq Dubai with a total value in excess of AED 20 billion

Dubai: Hesham Abdulla Al Qassim, Vice Chairman and Managing Director of Emirates NBD Group and Chairman of Emirates Islamic, today rang the market-opening bell at Nasdaq Dubai to celebrate the listings of a one-billion dirham bond from Emirates NBD and a one-billion dirham Sukuk from Emirates Islamic.

These first of their kind Dirham-denominated issuances by a financial institution reflect continued momentum in developing the local currency fixed income market spearheaded by the UAE’s Ministry of Finance’s T-Bond Program.

The three-year bond and Sukuk priced at 5.125% and 5.05% respectively and had a combined order book in excess of AED 4.25 billion, with strong demand from investors in Asia, the Middle East and Europe.

Hesham Abdulla Al Qassim, Vice Chairman and Managing Director of Emirates NBD Group and Chairman of Emirates Islamic said: “We are proud that Emirates NBD and Emirates Islamic have taken