With a total value of $2.68 billion

Nasdaq Dubai welcomes the listing of 5 bond issues of the Industrial Bank of China

Nasdaq Dubai has welcomed the listing of five issues of carbon neutral bonds issued by the Industrial and Commercial Bank of China Limited, the world's largest bank by total assets, with a total value of $2.68 billion.

A statement stated that the bonds were issued through the branches of the Industrial and Commercial Bank of China in the Dubai International Financial Centre, Hong Kong, London and Singapore.


Multi currency slice

According to the statement, the branch of the Industrial and Commercial Bank in the Dubai International Financial Center issued a tranche of two-year multi-currency bonds worth two billion Chinese yuan, with a yield of 3.20%.

This issue is the first carbon-neutral bond issued in the GCC region, and is the largest yuan-denominated bond issued within the Industrial and Commercial Bank of China Group Limited.

The stock exchange statement confirmed that the bonds attracted remarkable interest from investors, and the final pricing was reduced by 55 basis points compared to the initial indicative price at the closing of the subscription records.


Other slides

The other tranches included three-year bonds worth 300 million euros at a yield of 1.625%, two-year HK$2 billion bonds at a yield of 2.95%, three-year bonds of $1.2 billion at a yield of 2.95%, and three-year bonds of $600 million at a floating rate.


market opening

The Consul General of the People's Republic of China in Dubai, Li Zhuhang, rang the opening bell of Nasdaq Dubai, to celebrate the listing, in the presence of the General Manager of the bank's branch in the Dubai International Financial Center, Zhang Junju, and Hamed Ali, CEO of Nasdaq Dubai and the Dubai Financial Market.

"The DIFC has always been an excellent platform for the growth of Chinese banks in Dubai, which helps enhance bilateral economic and financial cooperation," said Zhouhang, stressing that the listing of the Industrial and Commercial Bank of China's green bond on Nasdaq Dubai reflects the position of Chinese companies in the Dubai market.


green finance

For his part, Zhang Junguo, General Manager of the bank's branch in the DIFC, said: "The successful issuance of this multi-tranche green bond on Nasdaq Dubai highlights ICBC's commitment to promoting green development and green finance."

He added, "In line with the UAE's vision to build a clean and green future, the bank will continue to contribute to achieving global sustainable development," stressing its continuous efforts to develop the commercial activities of the Industrial and Commercial Bank of China in the region, and to enhance Sino-Emirati cooperation in the economic, commercial and financial fields.


strengthen links

In the same context, Hamed Ali, CEO of Nasdaq Dubai and the Dubai Financial Market, said: “We are pleased to welcome the new bond listing by the Industrial and Commercial Bank of China, which confirms (NASDAQ Dubai)’s active role in strengthening the links between capital markets in the region and China.” .

"Many leading institutions in China are taking advantage of the stock exchange to realize plans to raise liquidity and reach international investors," he added.

The total value

The new issues raised the total value of ICBC bonds listed on Nasdaq Dubai to $4.375 billion, making ICBC the largest Chinese issuer on the stock exchange.

The issues that were accepted on Nasdaq Dubai on June 2, 2022, raised the total value of debt securities listed on the exchange to $111.5 billion, which strengthened Dubai's position as a global leader.

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