By Sam Bridge
Dubai bourse welcomes listing of two $500m bonds by Commercial Bank of China
Nasdaq Dubai, the international financial exchange in the Middle East, has welcomed the listing of two bonds with a total value of $1 billion by Industrial and Commercial Bank of China (ICBC).
The two $500 million bonds listed by the world’s largest bank by assets bring the total value of all bonds listed on Nasdaq Dubai by ICBC to $4.56 billion 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.