Emirates Development Bank lists $750m bond on Nasdaq Dubai

Emirates Development Bank lists $750m bond on Nasdaq Dubai

Emirates Development Bank, completely owned by the UAE government, has listed a $750m bond on Nasdaq Dubai. The five-year bond issuance reportedly witnessed strong demand from investors, with 34 per cent of that demand coming from MENA markets, 36 per cent from European markets, 28 per cent from Asian markets and 2 per cent from the US offshore market, according to a statement issued by the bourse. The EDB bonds were listed on Nasdaq Dubai on June 15, 2021, making Dubai's one of the largest listing venues in the Middle East for US-dollar denominated debt listings, with a total value of $98.5bn. "We are pleased with the accelerating pace of issuances and listings on Nasdaq Dubai. These transactions, including the new bond listing from EDB, clearly indicates their deep confidence in the robust listing framework of Nasdaq Dubai inline with the requirements of prominent corporations and investors," said Hamed Ali, CEO of Nasdaq Dubai and Deputy CEO of DFM. To mark EDB's listing, Ahmed Mohamed Al Naqbi, CEO of the bank, rang Nasdaq Dubai's market opening bell on Tuesday. "The successful second issuance of our $750m bond issue, which was oversubscribed four times, reflects the global and local investor confidence