Nasdaq Dubai welcomes $400 million Green Bond from Bank of China

Nasdaq Dubai on Monday welcomed $400 million Green Bonds by the Bank of China (Dubai Branch), one of China’s four biggest state-owned commercial banks.

This significant issuance, due 2027, is rated “A” by S&P Global Ratings and is part of the Bank of China’s $40 billion Medium Term Note Programme. Notably, the Floating Rate Notes have been issued as Green Bonds, wherein the issuer intends to use the net proceeds to finance or refinance eligible green projects.

With the addition of this listing, the total value of bonds listed on Nasdaq Dubai by the Bank of China, including listings from both Luxembourg and Dubai branches, reaches $1.47 billion.

This listing further boosts Nasdaq Dubai’s portfolio of ESG-related issuances to $30 billion and the total value of listed bonds to $41 billion, contributing to the exchange’s growing standing as a global leader in fixed-income listings and a central hub for sustainable financial instruments.

Ou Boqian, Consul-General of China in Dubai, noted that the current comprehensive strategic partnership is at its best historical moment, with solid and deep political mutual trust and flourishing financial cooperation. On the occasion of the 40th anniversary of the diplomatic relations between China and the UAE, China and the UAE issued a joint statement.

She noted that the close cooperation between bilateral financial institutions in green finance specifically reflects the implementation of the statement related to the environment, climate change, and sustainable development. It also injects financial momentum into the implementation of the COP28 UAE Consensus.

Pan Xinyuan, General Manager of Bank of China (Dubai Branch), introduced that the proceed from this bond issuance will be exclusively used for renewable energy and clean transportation projects in the UAE.

Hamed Ali, CEO of Nasdaq Dubai and Dubai Financial Market, commented, “We are pleased to welcome the Bank of China’s listing on Nasdaq Dubai. This admission highlights Dubai’s role as a premier destination for international issuers and reflects the deep-rooted relationship between the UAE and China. It also underscores the growing demand from international investors for a sustainable and dynamic financial ecosystem in the region.”

WAM