Emirates NBD rings Nasdaq Dubai’s market-opening bell to celebrate $500mln bond listing
- Date: 09-Nov-2022
- Source: Zawya
- Sector:Financial Markets
- Country:UAE
Emirates NBD rings Nasdaq Dubai’s market-opening bell to celebrate $500mln bond listing
- Dubai’s status as one of the leading debt listing venues gains momentum with a total value of US$ 115.96 billion
Dubai: Hesham Abdulla Al Qassim, Vice Chairman and Managing Director of Emirates NBD, today rang the market-opening bell at Nasdaq Dubai to celebrate the listing of a US$ 500 million bond. The listing of this issuance reinforces Emirates NBD’s position as the largest corporate bond issuer on Nasdaq Dubai with a total value of US$ 5 billion. It also reinforces Dubai status as one of the largest listing venues in the Middle East for regional and international debt listings, with a total value of US$ 115.96 billion.
Priced at 5.625% coupon, the new 5 years benchmark bond is Emirates NBD’s first public senior US$ issuance since the rating upgrade by Moody’s to A2. The bond was 2.5 times oversubscribed with over one-hundred institutions placing orders. 40% of demand came from the Middle East, 30% from Europe and 30% from the Rest of the World.
Hesham Abdulla Al Qassim, Vice Chairman and Managing Director of Emirates NBD, said: "The successful issuance and listing of Emirates NBD’s bond and the strong appetite from investors, in spite of a challenging global market environment, underscore Investors’