Nasdaq Dubai Welcomes USD 500 Million Sustainability-Linked Loan Financing Bond by Emirates NBD

2 Min | 19 December 2024

The bond is the world’s first SLLB issued under the new ICMA/LMA framework
The issuance strengthens Dubai’s position as a global hub for ESG-linked financial instruments, contributing to Nasdaq Dubai’s total outstanding value of USD 139 billion in fixed-income listings.

Dubai, 18 December 2024 – Nasdaq Dubai welcomed the listing of Emirates NBD Bank PJSC’s, USD 500 million Sustainability-Linked Loan Financing Bond (SLLB), the world’s first SLLB issued under the new International Capital Market Association (ICMA) and Loan Market Association (LMA) framework.

Rated A2/A+ by Moody’s and Fitch, the five-year bond carries a fixed coupon rate of 5.141% and matures in 2029. It is issued under Emirates NBD’s USD 20 billion EMTN (Euro Medium Term Note) Programme, reinforcing the Bank’s commitment to sustainability and innovation in financial markets.

The issuance of the dual-listed bond on Nasdaq Dubai and Euronext Dublin, reflects strong interest from both regional and international investors, further underscoring Dubai's position as a leading global hub for sustainable and innovative debt capital markets. Emirates NBD’s latest issuance increases the Bank’s total value of bonds currently listed on Nasdaq Dubai to USD 5.77 billion, spanning 9 listings.

Nasdaq Dubai continues to solidify its position as the premier platform for regional and global fixed-income and ESG-related listings. The exchange boasts an outstanding total value of USD 139 billion in listed fixed-income securities, with USD 30.4 billion dedicated to ESG-focused issuances, further enhancing Dubai’s reputation as the gateway for investors seeking diverse investment opportunities.

To celebrate this listing, Hesham Abdulla Al Qassim, Vice Chairman and Managing Director of Emirates NBD Group rang the market opening bell at Nasdaq Dubai, alongside Hamed Ali, CEO of Nasdaq Dubai and Dubai Financial Market.

Hesham Abdulla Al Qassim, Vice Chairman and Managing Director of Emirates NBD Group, said: ‘We are proud to list the world’s first Sustainability-Linked Loan Financing Bond that is issued under the new ICMA/LMAframework, 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.”

Hamed Ali, CEO of Nasdaq Dubai and Dubai Financial Market (DFM), said: “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 from the bond will be allocated to finance or refinance Emirates NBD's portfolio of Sustainability-Linked Loan (SLL) assets, in accordance with its Sustainability-Linked Loan Financing Bond (SLLB) Framework. This issuance underscores the growing demand for ESG-focused financial instruments in regional and global markets.

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