New listing brings the New Development Bank’s total listings on Nasdaq Dubai to US$3.75 billion under its EMTN programme
Dubai: Nasdaq Dubai has welcomed the listing of a US$1.75 billion, three-year benchmark bond issued by the New Development Bank (NDB).
The listing brings NDB’s total listed value on the exchange to US$3.75 billion under its US$50 billion Euro Medium Term Note (EMTN) Programme, reflecting the bank’s continued use of Dubai’s capital markets to access regional and international investors.
The bond carries a coupon of 4.375 per cent and matures in 2029.
Issued under NDB’s EMTN Programme, the bond forms part of the bank’s funding strategy to mobilise long-term capital for infrastructure and sustainable development projects across BRICS countries and other emerging and developing economies.
The issuance attracted diversified investor demand, with 65 per cent coming from Asia-Pacific, 32 per cent from Europe, the Middle East and Africa (EMEA), and 3 per cent from the Americas. The final order book exceeded US$3.2 billion.
Participation came from a broad institutional investor base, including central banks and official institutions, banks, fund managers and corporates.
Daopeng Fu, Vice-President and Chief Financial Officer of the New Development Bank, said: “Investor participation in the US$1.75 billion three-year benchmark bond issuance demonstrates strong market confidence in the New Development Bank’s robust credit standing and its development mandate of mobilising resources for infrastructure and sustainable development projects in NDB member countries and other emerging economies and developing countries.”
He added that the issuance also demonstrated the bank’s access to diversified sources of international capital.
Hamed Ali, Chief Executive Officer of Nasdaq Dubai and Dubai Financial Market (DFM), said: “New Development Bank’s listing reflects the continued participation of supranationals in our fixed-income market, with investors engaging across geographies.”
He added that such transactions allow international issuers to access diversified pools of capital through a transparent and internationally aligned platform, while reinforcing Dubai’s position in sustainable finance and cross-border capital flows.
The issuance adds to Nasdaq Dubai’s debt capital markets platform, which hosts listings by sovereigns, financial institutions, corporates and multilateral issuers.
Nasdaq Dubai currently hosts US$143.9 billion in outstanding debt securities.
Source: Emirates 24|7