By Staff writer
NASDAQ Dubai welcomes listing of $78m conventional bond by emirate's largest lender
NASDAQ Dubai, the region's international stock exchange, has welcomed the listing of a 100 million New Zealand dollar ($78.1 million) conventional bond by Emirates NBD.
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, the bourse said in a statement.
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, added: "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. Emirates NBD is the largest issuer of these by value, with a total of $2.33 billion.
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."For all the latest market news from the UAE and Gulf countries, follow us on Twitter and Linkedin, like us on Facebook and subscribe to our YouTube page, which is updated daily.