Hesham Abdulla Al Qassim, vice chairman and managing director of Emirates NBD (ENBD), one of the region’s leading banks, rang the market-opening bell today at Nasdaq Dubai to celebrate the listing of a $1 billion conventional bond.
The capital raised by the issue supports Emirates NBD’s regional and international business across diverse services including retail, wholesale and investment banking, private banking, asset management, global markets & treasury and brokerage operations and Islamic banking.
Emirates NBD is the largest issuer of conventional bonds on Nasdaq Dubai with a total nominal value of $5.28 billion from eight listings.
Al Qassim said: “As we make use of long-term funding opportunities to further develop our banking services for businesses and individuals, our strong links with Nasdaq Dubai provide us with a high international profile and excellent regulatory framework for our bonds. Our latest issuance was well received by a wide range of investors across Europe, Asia and the Middle East, demonstrating their confidence in the ongoing performance of Emirates NBD.”
Essa Kazim, governor of Dubai International Financial Centre and chairman of Dubai Financial Market, said: “The listing of Emirates NBD’s latest bond demonstrates the commitment of Dubai’s leading financial services institutions to collaborate for their common benefit, by making effective use of the region’s capital markets. Dubai will continue to enhance its listing infrastructure on behalf of UAE and overseas issuers and investors.”
The total value of all conventional bonds listed on Nasdaq Dubai has now reached $18.08 billion. Dubai is also the largest centre in the world for listed Sukuk by value at $59.39 billion.
Abdul Wahed Al Fahim, Chairman of Nasdaq Dubai, said: “Nasdaq Dubai is delighted to support the capital-raising requirements of Emirates NBD as part of our commitment to facilitating the expansion and development of leading institutions that benefit the public and the economy. As