Nasdaq Dubai welcomes CNH 2b Yulan bond listing
- Last updated: November 2, 2026 | 15:55
Nasdaq Dubai has welcomed the listing of a CNH2 billion Yulan Bond issued by Bank of China (Dubai Branch), marking the first Yulan Bond to be listed on the exchange.
The two-year fixed-rate note, maturing in October 2028, is dual-listed on Nasdaq Dubai and the Hong Kong Stock Exchange.
The transaction attracted strong demand from regional and international investors, with the final yield tightening by 50 basis points from initial price guidance of 2.10 per cent to 1.60 per cent.
The bond carries an A credit rating from Fitch Ratings, reflecting Bank of China’s Long-Term Issuer Default Rating, with net proceeds to be used for general corporate purposes.
Registered and held through the Shanghai Clearing House (SHCH) and settled internationally through Euroclear, Yulan Bonds follow international custody practices, enabling global investors to access them directly.
To mark the listing, Zeng Jixin, Ambassador of the People’s Republic of China to the UAE, rang the market-opening bell at Nasdaq Dubai, accompanied by Ou Boqian, Consul-General of the People’s Republic of China in Dubai; Hamed Ali, CEO of Nasdaq Dubai and Dubai Financial Market (DFM); and senior Bank of China executives.
Zeng said the issuance represents another step in promoting the cross-border use of the renminbi and strengthening connectivity between Chinese financial infrastructure and international markets.
He added that China-UAE financial cooperation continues to expand across local-currency settlement, investment, financing and financial innovation, with the listing broadening access to renminbi financial products in the Middle East.
Ou said the listing reflects the increasing integration of Chinese institutions into Dubai’s financial market and supports growing China-UAE economic and trade cooperation.
Hamed Ali said the listing provides global investors with another avenue to access offshore renminbi fixed income and builds on more than US$31.9 billion in cumulative Chinese debt activity on Nasdaq Dubai.
He added that the dual listing reflects closer links between regional and Asian capital markets.
In September 2026, the Dubai Financial Services Authority (DFSA), Nasdaq Dubai, the Hong Kong Monetary Authority (HKMA) and Hong Kong Exchanges and Clearing Limited (HKEX) established a Strategic Working Group to explore cross-border listings, market connectivity and multi-currency debt issuance.
Total outstanding debt listed on Nasdaq Dubai now exceeds $145 billion, reinforcing the exchange’s role as an international hub for fixed-income issuances and cross-border investment.
WAM