Nasdaq Dubai has announced the listing of Emirates NBD Bank PJSC’s $500 million Sustainability-Linked Loan Financing Bond (SLLB), the world’s first SLLB issued under the new framework established by the International Capital Market Association (ICMA) and Loan Market Association (LMA).
Bond details and ratings
With an A2/A+ rating from Moody’s and Fitch, this five-year bond features a fixed coupon rate of 5.141 percent and is set to mature in 2029. It is issued under Emirates NBD’s $20 billion EMTN (Euro Medium Term Note) Programme, emphasizing the Bank’s dedication to sustainability and innovation within financial markets.
According to Dubai Financial Market (DFM), the dual-listed bond, available on both Nasdaq Dubai and Euronext Dublin, has attracted significant interest from regional and international investors, further cementing Dubai’s status as a leading global hub for sustainable and innovative debt capital markets. With this latest issuance, Emirates NBD has boosted its total bond value listed on Nasdaq Dubai to $5.77 billion, encompassing nine listings.
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Gateway for investors
Nasdaq Dubai continues to establish itself as the premier platform for both regional and global fixed-income and ESG-related listings. The exchange currently showcases a remarkable total value of $139 billion in listed fixed-income securities, including $30.4 billion dedicated to ESG-focused issuances, thereby enhancing Dubai’s reputation as a gateway for investors seeking diverse investment opportunities.
To commemorate this listing, Hesham Abdulla Al Qassim, vice chairman and managing director of Emirates NBD Group, rang the market opening bell at Nasdaq Dubai, joined by Hamed Ali, CEO of Nasdaq Dubai and DFM.
Milestone for capital markets
Commenting on this, Al Qassim said: ‘We are proud to list the world’s first Sustainability-Linked Loan Financing Bond that is issued under the new ICMA/LMA framework, on Nasdaq Dubai. This not only marks an important milestone in our sustainability journey as a Bank but also serves as a testament to our commitment to supporting the evolving needs of capital markets, investors and our customers for ESG-compliant financial instruments.”
For his part, Ali remarked: “We welcome Emirates NBD’s Sustainability-Linked Loan Financing Bond to Nasdaq Dubai. The exchange continues to play a key role in providing issuers with access to capital to support their sustainable initiatives. This milestone issuance marks an important step in our shared mission to expand the availability of ESG financing solutions in the region.”
Proceeds and future plans
The proceeds from this bond will be directed towards financing or refinancing Emirates NBD’s portfolio of Sustainability-Linked Loan (SLL) assets, in line with its Sustainability-Linked Loan Financing Bond (SLLB) Framework. This issuance highlights the increasing demand for ESG-focused financial instruments in both regional and global markets.
