The Banking Executive Magazine - Issue 150, June 2021

EMIRATES NBD LISTS $750MLN BOND ON NASDAQ Emirates NBD, Dubai’s largest lender has listed its $750 million bond - Ad- ditional Tier 1 (AT1) capital bond - on Nasdaq. The bank’s second offering for 2021 has increased Emirates NBD’s listed bonds to more than $5.1 billion, making it the largest financial serv- ices bond issuer on Nasdaq. The latest issuance was 2.3 times oversubscribed and attracted de- mand from the region, as well as Asia, Europe and the United King- dom, among others, the bank said in a statement. “The successful issuance and listing of the second bond… underlies in- vestor confidence in the fundamen- tals and prospects of the bank as one of the largest banking groups in the region, as well as the growth outlook for the UAE’s economy,” said Hes- ham Abdulla Al Qassim, vice chair- man and managing director of Emirates NBD. The success of the latest bond re- flects investor confidence in Emirates NBD’s business strategy, as well as the local economy, Emirates NBD CEO Shayne Nelson said. The new bond has been launched at a yield of 4.25 percent. It follows six other listings made by the bank ear- lier. Last January, the bank sold $750 million in five-year bonds, marking Emirates NBD’s first public debt of- fering for 2021. the BANKING EXECUTIVE 52 ISSUE 150 JUNE 2021