Emirates NBD rings bell to celebrate listing of USD 750 million bond on Nasdaq Dubai
Issuance underlines Bank’s commitment to further expansion in UAE and internationally
Emirates NBD is largest bond issuer on the exchange with 8 issuances valued at more than USD 5 billion
Hesham Abdulla Al Qassim, Vice Chairman and Managing Director of Emirates NBD, one of the region’s leading banks, today rang the market-opening bell to celebrate the listing of a 750 million US dollar conventional bond on Nasdaq Dubai, the region’s international financial exchange.
The issuance underlines Emirates NBD’s commitment to further growth and expansion, building on recent developments that include increasing its international branch presence, enhancing its digital strategy and investing further in core businesses. Emirates NBD recently announced net profit reached AED 6.17 billion in the first nine months of 2017, up 15% from the same period in 2016.
Emirates NBD is the largest issuer of conventional bonds on Nasdaq Dubai, with a total nominal value of 5.03 billion US dollars from eight listings.
The bell ceremony took place in the presence of His Excellency Essa Kazim, Governor of Dubai International Financial Centre (DIFC) and Chairman of Dubai Financial Market (DFM); Abdul Wahed Al Fahim, Chairman of Nasdaq Dubai; Shayne Nelson, Group Chief Executive Officer of Emirates NBD; and Hamed Ali, Chief Executive of Nasdaq Dubai.
Hesham Abdulla Al Qassim, Vice Chairman and Managing Director of Emirates NBD,said: "The high international profile and excellent regulatory framework provided by Nasdaq Dubai make the exchange the ideal platform for our bond listings, as we raise long-term funding to support our financial services business in the UAE and internationally. Our close relationship with Nasdaq Dubai supports the continuing growth of the UAE as a regional and global centre of financial services activity.”
His Excellency Essa Kazim, Governor of DIFC and Chairman of DFM, said: "Dubai’s exchange infrastructure is well positioned to support Emirates NBD as the bank further strengthens its important role in providing a wide range of financial services to corporate and individual clients. Through mutual collaboration and strategic alignment, Dubai’s leading financial services institutions are promoting economic growth and wealth creation in the UAE and beyond.”
Conventional bonds listed on Nasdaq Dubai from all Dubai-based issuers now total 9.08 billion US dollars, with listings from overseas totalling 4.26 billion US dollars.
Abdul Wahed Al Fahim, Chairman of Nasdaq Dubai, said: "As the region’s international financial exchange, Nasdaq Dubai is committed to strengthening its role as a centre for capital-raising by private and public sector issuers across a wide variety of industries. We will continue to enhance our listing processes and post-listing infrastructure to meet the needs of issuer s and investors.”
Shayne Nelson, Group Chief Executive Officer of Emirates NBD, said: “Our latest bond listing demonstrates our continuing ability to raise long-term funding successfully through debt issuance, making use of Nasdaq Dubai’s first class market infrastructure and investor links. The bond was well received by investors and was subscribed pretty evenly between Europe, Asia and the Middle East which also enabled us to broaden our investor base.”
Hamed Ali, Chief Executive of Nasdaq Dubai, said: "We look forward to further strengthening our close and longstanding relationship with the Emirates NBD Group, whose activities on the exchange include brokerage services for corporate and individual clients as well as issuance. We will also build further on our success as a leading venue for debt listings, both conventional and Islamic, through further enhancing our regional and international links to investors.
Emirates NBD’s 750 million US dollar bond listed on Nasdaq Dubai on November 15, 2017.