Nasdaq Dubai welcomes $750m EDB bond listing

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Picture used for illustrative purpose only.

Ahmed Mohamed Al Naqbi, CEO of Emirates Development Bank (EDB), on Tuesday rang Nasdaq Dubai’s market-opening bell to celebrate the listing of a $750 million bond.

The listing announcement event was attended by Hamed Ali, CEO of Nasdaq Dubai and Deputy CEO of Dubai Financial Market (DFM), as well as senior executives from both sides.

Al Naqbi said, “The successful second issuance of our $750 million bond issue, which was oversubscribed four times, reflects the global and local investor confidence in our strategy to support UAE’s economic diversification plans.” The programme will be fundamental to support individuals, SMEs, and corporates across priority industrial sectors in the UAE to build a knowledge-based economy, he added.

The five-year bond issuance received strong demand from investors, as 34 per cent of appetite came…

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