Nasdaq Dubai welcomes New Development Bank's $1.75 billion bond listing

Nasdaq Dubai welcomed the listing of a $1.75 billion, 3-year benchmark bond issued by New Development Bank (NDB).

This brings NDB’s total listed value on the exchange to $3.75 billion under its $50 billion Euro Medium Term Note (EMTN) Programme, reflecting NDB's continued confidence in Dubai's capital markets to access regional and international investors.

The issuance carries a coupon of 4.375 % and matures in 2029. Issued under NDB's EMTN Programme, which provides the Bank with a flexible and efficient framework to issue debt instruments aligned with its development mandate, it forms part of NDB'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, led by 65 % from Asia Pacific, 32 % from EMEA and 3 % from the Americas, with a final order book in excess of $3.2 billion.

Participation came from a broad institutional base, including central banks and official institutions, banks, fund managers and corporations, reflecting the profile of investors accessing Dubai's fixed income market. The listing underscores the Bank's approach to diversifying its funding sources while strengthening its presence across key international financial centres.

Daopeng Fu, Vice-President and Chief Financial Officer of the New Development Bank, said, "Investor participation in the US$1.75 billion 3-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. The bond issuance also underscores NDB’s access to diversified sources of international capital."

Hamed Ali, CEO 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. Transactions of this nature 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."

This issuance adds to Nasdaq Dubai's debt capital markets platform, which hosts listings by sovereigns, financial institutions, corporates and multilateral issuers. Nasdaq Dubai currently has $143.9 billion in outstanding debt securities.

WAM