Nasdaq Dubai welcomes the listing of $500 million bonds from the Bank of China Dubai Branch
Dubai, 8 December / WAM / Nasdaq Dubai welcomed the successful listing of floating rate bonds worth $500 million issued by the Bank of China Dubai Branch, within the bank’s medium-term bonds programme, amounting to $40 billion.
The three-year conventional bonds mature on November 24, 2028, and the issuance set a record as the lowest margin for three-year US dollar-denominated bonds at the level of Chinese banks, which reflects the confidence of international markets in the strength of the creditworthiness of the Bank of China and its financing capabilities.
This issuance reflects the strong and growing position of Chinese financial institutions on Nasdaq Dubai, and also confirms investors’ continued confidence in the credit strength of the Bank of China and its global financing strategy. Thus, the total value of debt instruments listed by the Bank of China on Nasdaq Dubai rose to about $1.9 billion across several tranches and maturity dates.
To celebrate the successful listing, Her Excellency Ms. Au Boqian, Consul General of the People’s Republic of China in Dubai, rang the opening bell of the trading session at Nasdaq Dubai, along with Hamed Ali, CEO of the Dubai Financial Market and Nasdaq Dubai, and a group of senior executives from both sides.
Her Excellency Ms. Au Bockian said that the Bank of China’s issuance of bonds reflects the influence of Chinese institutions in global capital markets, and strengthens Dubai’s position as a leading international financial center in the Middle East. Financial cooperation between China and the United Arab Emirates has achieved fruitful results in recent years, and the successful listing of these bonds is a clear indication of the depth and expansion of financial cooperation relations between the two countries.
Hamed Ali, CEO of the Dubai Financial Market and Nasdaq Dubai, said: The Bank of China has succeeded in building a solid and reliable relationship with Nasdaq Dubai, and we are pleased to welcome its latest listing on the stock exchange, while Dubai continues to play its pivotal role as a strategic bridge linking China to global markets, and provides a transparent platform compatible with international standards, to provide access to a broad and diverse base of investors. Listings of this level are evidence of the strength and flexibility of the stock exchange.
It is worth noting that Chinese issuers, including the Bank of China, the China Development Bank, the Ministry of Finance of the People’s Republic of China, the Industrial and Commercial Bank of China, the Agricultural Bank of China, and the China Construction Bank, have raised proceeds of more than US$27 billion through listings on Nasdaq Dubai.
The exchange also hosted prominent listings that included the first bond issuances in the Middle East region from the Chinese Ministry of Finance and the China Development Bank, highlighting the vital role played by Dubai as a major link for capital flows between Asia and global markets.
The total value of debt instruments currently listed on Nasdaq Dubai has exceeded $145 billion, which strengthens the exchange’s position as a leading platform in the region for listing international fixed income instruments, and a global center for cross-border capital flows.
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