Dubai, UAE – Nasdaq Dubai welcomed the listing of three-year benchmark bonds worth $1.75 billion issued by the New Development Bank. This brings the total value of the bank’s listings on the stock exchange to $3.75 billion. Reflecting the bank’s continued confidence in Dubai’s capital markets to reach regional and international investors.
The issue carries a coupon rate of 4.375 percent and is due in 2029. The issuance was made as part of the bank’s European medium-term bond programme. Which provides a flexible and effective framework for issuing debt instruments in line with its development mission. It forms part of the Bank’s financing strategy aimed at raising long-term capital for infrastructure and sustainable development projects in BRICS countries and other emerging and developing economies.
The issuance attracted diverse demand from investors, with 65 percent coming from the Asia-Pacific region. 32 percent from Europe, the Middle East and Africa, and 3 percent from the Americas. With final IPO orders exceeding US$3.2 billion.
Participation came from a broad institutional base, including central banks, official institutions, banks, fund managers, and companies. Reflecting the nature of investors accessing Dubai’s fixed income market.
The listing confirms the bank’s approach to diversifying its sources of financing and strengthening its presence in major international financial centres.
This issuance is in addition to Nasdaq Dubai’s debt markets platform, which hosts listings of sovereigns, financial institutions, companies, and multilateral institutions.
Nasdaq Dubai currently has debt instruments worth $143.9 billion.
