Dubai, UAE – Nasdaq Dubai welcomed the listing of additional first tranche (AT1) bonds worth $500 million, issued by Mashreq Bank.
The deal attracted strong demand from regional and international investors.
The total number of orders in the order book reached about $2.1 billion.
The issue was priced at an annual return of 6.25% after reducing the margin compared to the initial guidance.
Demand was also marked by remarkable geographical diversity, with 67% of allocations coming from the Middle East and North Africa region, 22% from Europe, and 8% from Asia.
The listing on Nasdaq Dubai highlights the depth of liquidity available to issuers in the UAE, and the continued development of the secondary capital instruments market in the region.
The head of the Treasury and Global Markets Department at Al Mashreq, Salman Hadi, rang the opening bell of the trading session at Nasdaq Dubai, along with the CEO of Nasdaq Dubai and the Dubai Financial Market, Hamed Ali.
With this issuance, the total value of Mashreq’s listed securities on Nasdaq Dubai rises to approximately $1 billion.
This enhances the bank’s established presence in international debt markets through the stock exchange.
