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Emirates NBD, Dubai’s largest lender, lists $750m bond on Nasdaq

     

    • The second offering for 2021 has increased NBD’s listed bonds to more than $5.1 billion.

    • It was 2.3 times oversubscribed and attracted demand from the region as well as Asia, Europe and the UK

    Emirates NBD, Dubai’s largest lender, has listed its $750 million bond – Additional Tier 1 (AT1) capital bond – on Nasdaq on Wednesday.

    According to Zawya, the bank’s second offering for 2021 has increased Emirates NBD’s listed bonds to more than $5.1 billion, making it the largest financial services bond issuer on Nasdaq. The latest issuance was 2.3 times oversubscribed and attracted demand from the region, as well as Asia, Europe and the United Kingdom, among others, the bank said in a statement.

    “The successful issuance and listing of the second bond… underlies investor confidence in the fundamentals and prospects of the bank as one of the largest banking groups in the region, as well as the growth outlook for the UAE’s economy,” said Hesham Abdulla Al Qassim, vice chairman and managing director of Emirates NBD. 

    The success of the latest bond reflects investor confidence in Emirates NBD’s business strategy, as well as the local economy, Emirates NBD CEO Shayne Nelson said. The new bond has been launched at a yield of 4.25 percent. It follows six other listings made by the bank earlier. Last January, the bank sold $750 million in five-year bonds, marking Emirates NBD’s first public debt offering for 2021.