Emirates NBD marks $750mn bond listing on Nasdaq Dubai

Emirates NBD marks $750mn bond listing on Nasdaq Dubai

Admin 6 hours ago Local News, Uncategorized

Dubai / WAM

Hesham Abdulla Al Qassim, Vice Chairman and Managing Director of Emirates NBD, on Wednesday rang the market-opening bell at Nasdaq Dubai to celebrate the listing of a $750 million conventional bond. The capital raised will assist the activities of Emirates NBD. The perpetual bond is callable after six years and pays a coupon of 6.125 percent. The issuance attracted strong international interest with 37 percent of orders coming from Europe, 33 percent from Mena and 30 percent from Asia. The order grew to $2.3 billion, which enabled Emirates NBD to tighten the price to 6.125 percent from the initial 6.5 percent guidance. Hesham Abdulla Al Qassim, Vice Chairman and Managing Director of Emirates NBD, said, "This bond will strengthen the Bank's capital ratios and will help us provide support to retail and business customers across a wide range of activities. Emirates NBD continues to support for the wise actions of the UAE leadership in promoting the development of the economy of the UAE and the wellbeing of its nationals and residents.“ Emirates NBD is further developing its services regionally and internationally in sectors including retail banking and wealth management, corporate and institutional