Prime Highlights-
- Emirates NBD has mandated a US dollar AT1 bond to strengthen its capital base and support long-term growth.
- The issuance has attracted major global banks as joint lead managers, showing strong international market participation.
Key Facts-
- Emirates NBD is the second-largest bank in the UAE by assets, deposits, and loans, with majority indirect ownership by the Government of Dubai.
- The bond issuance will follow investor meetings in London and is structured as a perpetual non-call AT1 instrument.
Background-
Emirates NBD Bank has issued a mandate for a US dollar-denominated perpetual additional tier 1 bond carrying a six-year non-call period, as the bank looks to keep building its presence in global capital markets.
The fixed-rate resettable bond is issued under Regulation S and will go toward reinforcing the bank’s capital base while supporting its broader growth targets. Barclays, Citi, HSBC, JP Morgan, First Abu Dhabi Bank, Abu Dhabi Commercial Bank, and Emirates NBD Capital have been brought in as joint lead managers and bookrunners for the deal.
Investor meetings are scheduled to begin in the final week of April in London, where the bank will present the offering to fixed-income investors from across the globe. The issuance will be subject to market stabilization measures in line with FCA and ICMA standards.
Emirates NBD ranks as the second-largest bank in the United Arab Emirates by assets, deposits, and loans. The Government of Dubai holds an indirect majority stake of roughly 55.76 percent, giving the bank a strong layer of state support.
The bank has kept a busy pace in capital markets over the past year. It previously issued its first digital bond in the local currency, valued at AED 1 billion, and followed that with a €500 million green bond, broadening its funding mix across both digital and sustainable finance.
The latest mandate reflects the bank’s continued ability to tap global capital markets while keeping its capital position solid as it pushes ahead with expansion across its regional and international business.
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