Nasdaq Dubai, the international financial exchange in the Middle East, has welcomed the listing of two bonds with a total value of one billion US dollars by Industrial and Commercial Bank of China (ICBC), the world’s largest bank by assets.
The two bonds of 500 million US dollars each bring the total value of all bonds listed on Nasdaq Dubai by ICBC to 4.56 billion US dollars from nine issuances. This is the highest value of conventional bond listings on the exchange by any overseas issuer. All the bonds were issued by ICBC Dubai (DIFC) Branch.
The listings underline the strong financial and economic relationship between Dubai and China, which is the UAE’s largest non-oil trading partner. The two 500 million US dollar bonds listed on October 17, 2019.