On Tuesday, Ahmed Mohamed Al Naqbi, CEO of Emirates Development Bank (EDB), struck the Nasdaq Dubai market-opening bell to commemorate the offering of a $750 million bond.

Hamed Ali, CEO of Nasdaq Dubai and Deputy CEO of Dubai Financial Market (DFM), and also some top officials from both companies, attended the listing announcement ceremony.

“The successful second offering of our $750 million bond issue, which was oversubscribed four times,” Al Naqbi said, “illustrates global and local investor trust in our approach to assist the UAE's economic diversification initiatives.” The initiative would be extremely critical in assisting people, SMEs, and corporates in the UAE's core industrial segments in building a knowledge-based economy, he added.

Investors showed significant interest in the five-year bond issue, with 34% coming from Mena markets, 36% from European markets, 28% from Asian markets, and 2% from the US offshore market.

In response, Ali stated that these transactions, which include EDB's (Emirates Development Bank) new bond listing, demonstrate their strong trust in Nasdaq Dubai's comprehensive listing structure, which meets the needs of important businesses and investors. The issue also demonstrates companies' commitment to playing a key role in funding economic growth.

The EDB (Emirates Development Bank) bonds, with a combined worth of $98.5 billion, were launched on Nasdaq Dubai on June 15, 2021, maintaining Dubai's leadership role as the largest listing venue in the Middle East for $ denominated debt listings.