A new listing strengthens the bank's position as the largest listed institution on the stock exchange

Trading in “Emirates NBD” bonds begins on Nasdaq Dubai

Emirates NBD officials ringing the opening bell on Nasdaq Dubai.

From the source

Yesterday, Hisham Abdullah Al Qassim, Vice Chairman and Managing Director of Emirates NBD Bank, rang the opening bell of trading on Nasdaq Dubai to celebrate the listing of bonds worth $500 million.

The new listing strengthens Emirates NBD's position as the largest listed institution on Nasdaq Dubai, with a total value of five billion dollars, and consolidates Dubai's position among the largest listing centers for regional and global fixed income issuances, with a total value of 115.96 billion dollars.

Yesterday's statement stated that this new five-year reference bond, priced at a yield of 5.625%, is the first public issuance of Emirates NBD's premium bonds, since Moody's raised the credit rating to "A2".

He explained that the issuance was covered by two and a half times the target level, and more than 100 institutions participated in it.

Vice Chairman and Managing Director of Emirates NBD, Hisham Abdullah Al Qassim, said that the success of the issuance and listing of Emirates NBD bonds, and the remarkable investment demand, despite the challenges facing global markets, reflect the confidence of investors in the bank's fundamentals and future prospects.

For his part, Chief Executive Officer of “NASDAQ Dubai” and the Dubai Financial Market, Hamed Ali, said: “We are pleased to welcome the new listing of Emirates NBD, the largest bond issuer on Nasdaq Dubai, amid a significant increase in the number of leading institutions benefiting from The Bourse’s world-class infrastructure and organizational structure, to implement its plans related to raising liquidity, and communicating with global investors.”

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