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SAIB reports $139 million Q1 net profit

its assets increased by 20.08 percent to $43.65bn.

Nissan forecasts $5.3bn annual net loss

Last year, it announced 9,000 job cuts worldwide.

Saudia to acquire 20 wide-body aircraft

10 of these being acquired for its flydaeal low-cost airline

ADIB’s Q1 net profit $517 million

Q1 2025 net profit before tax increased 18% YoY.

Emirates Islamic Q1 profit $394m

The bank's profit crossed AED 1bn mark for the first time.

Emirates Development Bank successfully closes $750-million five-year bond

The dollar-denominated bonds are due in 2023, 2025 and 2026.
    • EDB has successfully closed its $750-million five-year bond issue, which was four times oversubscribed

    • The bonds were priced at a fixed re-offer yield of 1.639% per annum in the Regulation S markets

    Emirates Development Bank has successfully closed its $750-million five-year bond issue, said a statement from the bank on Wednesday, June 8.

    The bonds were priced at a fixed re-offer yield of 1.639% per annum in the Regulation S markets, the statement added.

    This was the second dollar transaction issued under EDB’s $3 billion Euro Medium Term Note program — part of the bank’s mandate to boost its accessibility to capital markets and strengthen its funding profile, it said in the statement.

    The bond issue follows EDB receiving “AA-” long-term issuer credit ratings with Outlook Stable by S&P Global Ratings and Fitch. The bank’s $3-billion EMTN program has been assigned a “AA-” issuer rating by Fitch.

    The bond issue saw the order book reaching over $3 billion, which is an oversubscription of four times. The investor base was diverse, with 34% representing the Middle East, 36% from the European markets, 28% representing the Asian markets, and 2% from the US offshore market, said the bank in its statement.

    Emirates NBD Capital and Standard Chartered Bank acted as Global Coordinators on the transaction while Goldman Sachs International and Industrial and Commercial Bank of China Limited acted as the Joint Lead Managers on the transaction, said EBD.

    The bank’s debut $750-million bond, issued in 2019 was oversubscribed 4.7 times.