Abu Dhabi Securities Exchange (ADX) has announced the listing of Abu Dhabi's global medium-term note program valued at $2 billion, starting 5 July 2021.
The one-tranche global medium-term note program was listed on ADX as per the attached pricing term sheet, according to a press release on Tuesday.
"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," said Ahmed Mohamed Al Naqbi, CEO of Emirates Development Bank (EDB).
The program will be fundamental to support individuals, SMEs, and corporates across priority industrial sectors in the UAE to build a knowledge-based economy, he noted.
The five-year bond issuance received strong demand from investors, with 34 percent of them are from MENA markets, 36 percent from European markets, 28 percent from Asian markets and 2 percent from US offshore market.
Hamed Ali, CEO of Nasdaq Dubai and Deputy CEO of Dubai Financial Market (DFM) said that these transactions, including the new bond listing from EDB, indicate their deep confidence in the robust listing framework of Nasdaq Dubai in line with the requirements of prominent corporations and investors.
The Emirate of Sharjah has tightened price guidance to 3.25 percent 3.375 percent for 10-year US dollar-denominated Islamic bonds after it received more than $2.75 billion in orders, a document showed on Tuesday.
