Emirates NBD lists bonds worth one billion Chinese yuan on Nasdaq Dubai

The Nasdaq Dubai Stock Exchange welcomed the listing of bonds worth one billion Chinese yuan (equivalent to $140 million) issued by Emirates NBD, explaining that the bonds were issued within the bank’s medium-term Eurobond program, amounting to $20 billion. These bonds have an annual return of 2.40% and mature in 2028.

The stock exchange stated in a statement that this issuance represents an important step that returns the bank to the dim sum market, allowing global investors to access renminbi-denominated bonds outside the main Chinese territories. This issuance also contributes to diversifying the bank’s funding sources, and reflects investors’ confidence in high-quality bonds issued by Emirati financial institutions.

With this listing, the total value of debt instruments listed by Emirates NBD on Nasdaq Dubai currently rises to $5.4 billion, distributed over nine issues, which strengthens the bank’s leading position among financial institutions in the country in terms of listing activity. It also highlights the growth of links between Dubai and Asian markets, through renminbi-denominated bonds, which play an increasing role in global capital markets.

To celebrate the listing, Vice Chairman and Managing Director of Emirates NBD Bank Group, Hisham Abdullah Al Qassim, rang the opening bell of the trading session at Nasdaq Dubai, along with the CEO of the Dubai Financial Market and Nasdaq Dubai, Hamed Ali.

Al-Qassim said: “We are pleased to issue other new bonds that respond to the active demand for renminbi-denominated bonds outside the continental part of China. This new issuance confirms our strategic focus on providing added value to our customers, supported by large capital inflows into the country, and an attractive product range that meets their aspirations and preferences.”

For his part, Hamed Ali said: “The listing of dim sum bonds denominated in renminbi by Emirates NBD highlights the growing attractiveness of Nasdaq Dubai and the ability of leading institutions to diversify funding sources across multiple currencies and markets. Moreover, this listing strengthens Dubai’s position as a leading center for capital markets and debt instruments, and expands the scope of opportunities available to international investors.”