Published: Sep 29, 2014
Source: Khaleej Times

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Emirates NBD lists $500 million bond

Emirates NBD, one of the region’s leading banking groups, is now the largest issuer of conventional bonds on the region’s international exchange, with three listings totalling $2.25 billion.

Shaikh Ahmed bin Saeed Al Maktoum, chairman of Emirates NBD, rang the market-opening bell on Sunday to celebrate the listing of a $500 million conventional bond on Nasdaq Dubai.

Emirates NBD, one of the region’s leading banking groups, is now the largest issuer of conventional bonds on the region’s international exchange, with three listings totalling $2.25 billion. Nasdaq Dubai’s total conventional bond listings, from all issuers, have reached $6.74 billion. 

The bell ceremony took place in the presence of Essa Kazim, governor of Dubai International Financial Centre (DIFC) and chairman of Dubai Financial Market (DFM); Hesham Abdulla Al Qassim, vice-chairman of Emirates NBD; Shayne Nelson, chief executive of Emirates NBD; and Hamed Ali, CEO of Nasdaq Dubai.

Shaikh Ahmed said: “Nasdaq Dubai is the ideal venue to support our capital raising needs, as  the exchange combines international standards with  its location in our home region. We are delighted to make full use of Dubai’s first class listing structure as we pursue our strategy of expansion in the UAE and internationally.”Kazim said: “Emirates NBD’s latest bond underlines Dubai’s accelerating growth as a centre of activity and excellence in all aspects of fixed income. From issuance to listing and post-listing services, the Emirate is constantly enhancing its framework and architecture to meet the needs of market participants in the region and beyond.”

Abdul Wahed Al Fahim, chairman of Nasdaq Dubai, said: “As activity in the UAE’s financial services sector gathers pace, Nasdaq Dubai is delighted to provide its listing platform to support Emirates NBD’s growth and expansion.  The exchange will continue to support efficient capital-raising activities for a range of issuers that are active in a variety of sectors and industries.” Emirates NBD’s latest bond listing on the exchange took place on September 18, following a $750 million listing by the banking group in March 2013 and a one billion dollar listing in June 2013. Al Qassim, said: “As a regular issuer of international bonds, we appreciate the global and regional visibility and first class regulatory environment that Nasdaq Dubai provides for the benefit of ourselves and our investors. The streamlined and responsive admission process enables us to list on Nasdaq Dubai in a manner and timeframe that suits our commercial needs.”

Nelson said: “We look forward to cooperating further with Nasdaq Dubai in order to strengthen and deepen the capital markets infrastructure in the region. All market participants stand to gain  from our pursuit of mutually beneficial activities and enterprises at a time of rising economic optimism.” 

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