In an issuance that strengthens the bank’s position as the largest financial services institution listed on the stock exchange

Emirates NBD lists $750 million bonds on Nasdaq Dubai

Nelson rang the opening bell on Nasdaq Dubai to celebrate the listing of the bonds.

From the source

Emirates NBD Group CEO, Shane Nelson, rang the opening bell on Nasdaq Dubai yesterday to celebrate the listing of a $750 million bond.

A statement issued yesterday said that this issuance of the Tier 1 capital bonds enhances the bank's position as the largest financial services institution listed on Nasdaq Dubai, through seven issuances with a total value of $ 5.1 billion.

According to the statement, these bonds were issued with a return of 4.25%, which is the lowest rate of return in the UAE, and the second lowest return in the Middle East for T1 bonds.

The statement confirmed that the strong investment demand contributed to the coverage of the issuance by 2.3 times, as investors from the Middle East represented 64% of the requests, compared to 12% for investors from Asia and Europe, 10% for investors from the United Kingdom, and 2% for investors from other regions.

Investor confidence

Vice Chairman and Managing Director of Emirates NBD, Hisham Abdullah Al Qassim, said that the bank's remarkable success in issuing and listing its second bond issuance, during this year, reflects investors' confidence in the basic components and future prospects of the bank, as it is one of the largest banking groups at the regional level. As well as their confidence in the economic growth in the UAE.

He added, "The UAE's vaccine program, and the state's rush to deal effectively with the repercussions of the emerging corona virus, enabled business sectors to quickly restore their activity, which puts the national economy in an ideal position to continue its growth in 2021."

global architecture

In turn, the Governor of the Dubai International Financial Center and Chairman of the Board of Directors of the Dubai Financial Market, Issa Kazim, said that Dubai has succeeded in developing a world-class infrastructure and regulatory infrastructure for capital markets, which supports the growth of the financial services sector, not only in Dubai but at the global level.

Kazim stressed the commitment of the financial markets in Dubai to enhance the emirate’s position as a center for issuance and listing, and other investment activities regionally and globally, pointing out that the listing of Emirates NBD bonds on Nasdaq Dubai provides a clear indication of the issuers’ confidence in the excellence of the capital markets structure and its ability. To keep pace with the requirements of various institutions in the best possible way.

For his part, Chairman of Nasdaq Dubai, Abdul Wahed Al Fahim, said that Nasdaq Dubai continues to develop its listing capabilities, by building on its remarkable successes during 2020, which is a record year in terms of the number of bond and sukuk listings. new.

He added: “We look forward to strengthening the fruitful framework of (NASDAQ Dubai), through close and continuous cooperation with leading companies, and receiving many listings, during the current year, of prominent issuers in the UAE, the Middle East and the world at large, with the economic recovery gaining from the repercussions of the virus. The new Corona virus is gaining more momentum.”

It is noteworthy that Dubai is the largest center for listing US dollar-denominated debt instruments in the Middle East, with a total value of $93.126 billion.

strong links

The CEO of Emirates NBD Group, Shane Nelson, stressed that the success of the latest bond issuance reflects the confidence of investors in the sound strategies pursued by the Emirates NBD Group, and in the economy of Dubai and the UAE.

He added, "Nasdaq Dubai provides us with strong links with investors in the region and the world as a whole, in addition to a distinguished global presence."

As for the CEO of “Nasdaq Dubai” and the Executive Vice President of the Dubai Financial Market, Hamed Ali, he confirmed that the new listing by “Emirates NBD” supports the position of “Nasdaq Dubai” as the preferred listing center for sukuk and bonds in the Middle East region.

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