NASDAQ Dubai welcomes listing of a 100 million New Zealand dollar bond by Emirates NBD
NASDAQ Dubai, the region's international stock exchange, has welcomed the listing of a 100 million New Zealand dollar (USD 78.1 million) conventional bond by Emirates NBD, one of the region's leading banking groups.
The bond is the first to list on a GCC exchange in New Zealand's currency, reflecting NASDAQ Dubai's expanding global reach. It is the fourth bond overall issued by Emirates NBD to list on the exchange.
Abdul Wahed Al Fahim, Chairman of NASDAQ Dubai, said: "Emirates NBD's New Zealand dollar bond has given further impetus to the growth of Dubai as an international centre for fixed income activity, building bridges across regions. We look forward to supporting further capital-raising by a variety of regional and global businesses using this asset class."
Hesham Abdulla Al Qassim, Vice Chairman of Emirates NBD, said: "As our commercial presence grows rapidly across the region and internationally, we are delighted to make use of NASDAQ Dubai's links to global investors to support our capital-raising needs. The streamlined listing process makes the exchange attractive to us as a prominent issuer of bonds to international investors."
The total nominal value of all conventional bonds listed on NASDAQ Dubai has now reached 6.8 billion dollars. Emirates NBD is the largest issuer of these by value, with a total of 2.33 billion dollars.
Shayne Nelson, Chief Executive of Emirates NBD, said: "By successfully raising capital around the globe, we are creating new business opportunities for our customers and business partners. At the same time we are delighted to support the further growth of Dubai as a centre of capital markets activity building links across the world."
Hamed Ali, Chief Executive of NASDAQ Dubai, said: "As our bond market expands, NASDAQ Dubai is committed to enhancing the services that we provide for all market participants. These range from straightforward and responsive listing procedures to a growing range of post-listing facilities for issuers and investors."
Emirates NBD's New Zealand dollar bond listed on the exchange on October 9, 2014.