Home UAE Dubai Emirates Development Bank lists $750m bond on Nasdaq Dubai Dubai’s US-dollar denominated debt listings are now valued at $98.5bn by Varun Godinho July 7, 2021 Emirates Development Bank, completely owned by the UAE government, has listed a $750m bond on Nasdaq Dubai. The five-year bond issuance reportedly witnessed strong demand from investors, with 34 per cent of that demand coming from MENA markets, 36 per cent from European markets, 28 per cent from Asian markets and 2 per cent from the US offshore market, according to a statement issued by the bourse. The EDB bonds were listed on Nasdaq Dubai on June 15, 2021, making Dubai’s one of the largest listing venues in the Middle East for US-dollar denominated debt listings, with a total value of $98.5bn. “We are pleased with the accelerating pace of issuances and listings on Nasdaq Dubai. These transactions, including the new bond listing from EDB, clearly indicates their deep confidence in the robust listing framework of Nasdaq Dubai inline with the requirements of prominent corporations and investors,” said Hamed Ali, CEO of Nasdaq Dubai and Deputy CEO of DFM. To mark EDB’s listing, Ahmed Mohamed Al Naqbi, CEO of the bank, rang Nasdaq Dubai’s market opening bell on Tuesday. “The successful second issuance of our $750m bond issue, which was oversubscribed four times, reflects the global and local investor confidence in our strategy to support UAE’s economic diversification plans,” said Al Naqbi. “The program will be fundamental to support individuals, SMEs, and corporates across priority industrial sectors in the UAE to build a knowledge-based economy,” he added. In April this year, Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of UAE and Ruler of Dubai, approved the EDB’s strategy which includes a financing portfolio of Dhs30bn to contribute to financing more than 13,500 SMEs and creating 25,000 jobs over the next five years. Read: Sheikh Mohammed launches Dhs30bn strategic programme to stimulate vital sectors Tags Bonds Economy Emirates Development Bank finance Nasdaq Dubai News 0 Comments You might also like Key trade deal brings UAE, Mauritius closer together Bahrain notched up 2.45% growth in third quarter of 2023 Has UK economy entered a recession? Q3 data suggest so UAE central bank raises GDP growth outlook to 5.7% in 2024