Nasdaq Dubai welcomed $400 million in green bonds from the Bank of China (Dubai Branch), one of China’s four biggest state-owned commercial banks. The issuance, due in 2027, is part of the Bank of China’s $40 billion medium-term note program. 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.
“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,” stated Hamed Ali, CEO of Nasdaq Dubai and Dubai Financial Market.
Bank of China’s listings reach $1.47 billion
By advancing green finance initiatives, Nasdaq Dubai continues to promote global sustainability goals, fostering a marketplace that supports responsible investments. 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.
In addition, 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.
Pan Xinyuan, general manager of Bank of China (Dubai Branch), said that the proceeds from this bond issuance will exclusively go to renewable energy and clean transportation projects in the UAE. Serving the green economic transition between China and the UAE, it further highlights the Bank of China’s commitment and mission in green finance.
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Advancing climate targets
For his part, Ou Boqian, Consul General of the People’s Republic 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.
The close cooperation between bilateral financial institutions in green finance specifically reflects the implementation of the statement on the environment, climate change, and sustainable development. It also injects financial momentum into the implementation of the COP28 “UAE Consensus”.
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