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Thu 21 Mar 2019 03:14 PM

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Dubai's biggest bank lists $1bn bond on Nasdaq bourse

Emirates NBD is the largest issuer of conventional bonds on Nasdaq Dubai with a total nominal value of $5.28bn from eight listings

Dubai's biggest bank lists $1bn bond on Nasdaq bourse
The total value of all conventional bonds and sukuk on Nasdaq Dubai has now reached $77.28 billion.

Nasdaq Dubai has welcomed the listing of a new $1 billion conventional bond by Emirates NBD, Dubai's biggest bank.

Emirates NBD is the largest issuer of conventional bonds on Nasdaq Dubai with a total nominal value of $5.28 billion from eight listings.

The total value of all conventional bonds and sukuk on Nasdaq Dubai has now reached $77.28 billion.

The joint lead managers for Emirates NBD’s latest bond were BNP Paribas, Emirates NBD Capital, First Abu Dhabi Bank, HSBC, Nomura International and Standard Chartered Bank.

The legal advisor to Emirates NBD as issuer was Clifford Chance, and the legal advisor to the joint lead managers was Norton Rose Fulbright (Middle East).

In January, Emirates NBD reported a better-than-expected increase in full-year profit for 2018 as lending rose and loan loss charges fell.

The bank reported a net profit of $2.73 billion, supported by a 22 percent year-on-year improvement in provisions. The bank ended the year with assets of $136 billion, up 6 percent on 2017.

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