UAE lists $3 bn Treasury bonds on Nasdaq Dubai

Nasdaq welcomed listing carbon-neutrality-themed bonds valued at $2.68 bn
UAE lists $3 bn Treasury bonds on Nasdaq Dubai
ICBC bell ring

The UAE Ministry of Finance (MoF) listed Federal Government’s $3 billion dollar-denominated Treasury bonds (T-bonds) made their debut on Nasdaq Dubai after they were oversubscribed amid strong investor interest.

The issuance brings the total value of the UAE’s dollar-denominated bonds on the exchange to $7 billion, Nasdaq said. The UAE listed $4 billion in bonds on Nasdaq last October 2021.

Nasdaq also welcomed the listing of landmark five-tranche carbon-neutrality-themed bonds worth a total of $2.68 billion by the Industrial and Commercial Bank of China Limited (ICBC). The notes were issued by ICBC’s branches in the Dubai International Financial Centre (DIFC), Hong Kong, London, and Singapore.

The new issuances raised the total value of ICBC’s bonds listed on Nasdaq Dubai to US$ 4.375 billion, making ICBC the largest Chinese issuer on the exchange. 

UAE Treasury bonds


The new listings by the UAE government, represented by MoF, included a $1.75 billion 10-year tranche with a coupon of 4.050 percent and a $1.25 billion 30-year Formosa tranche with a coupon of 4.951 percent.

The issuances attracted strong demand from investors, with the total value of orders reaching $15 billion, or ten times the initial benchmark target of $1.5 billion, allowing the UAE to double the size of the issuances to $3 billion.

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