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  • Commercial Bank of Dubai rings market-opening bell to celebrate listing of USD 600 million bond on Nasdaq Dubai
  •  Commercial Bank of Dubai rings market-opening bell to celebrate listing of USD 600 million bond on Nasdaq Dubai


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    Dr. Bernd van Linder, Chief Executive of Commercial Bank of Dubai (CBD), one of the leading financial institutions in the UAE, rang the market-opening bell at Nasdaq Dubai today to celebrate the listing of a 600 million US dollar AT1 conventional bond.

    The six-year bond with a 6.000% interest rate was 2.1 times subscribed, and allocated to investors in the Middle East (61%), Europe (24%) and Asia (13%). It is the first bond issuance that CBD has listed on Nasdaq Dubai, the region’s international financial exchange.

    CBD is one of the oldest and leading banks in the UAE, which offers a wide-range of products and services to both wholesale and individual clients, including but not limited to cash management, trade finance, treasury, project finance, credit cards and mortgages. CBD has adopted a number of well-awarded digital technologies and solutions in all the core customer segments.

    Dr. Bernd van Linder, Chief Executive of Commercial Bank of Dubai (CBD), said:

    Darren Clarke, Chief Financial Officer of Commercial Bank of Dubai (CBD), said:

    Abdul Wahed Al Fahim, Chairman of Nasdaq Dubai, said:

    The value of new debt listings on Nasdaq Dubai so far this year has risen to 17.15 billion US dollars, up 9% from 15.85 billion US billion dollars in the same period of 2019.

    Dubai is the largest venue in the Middle East for USD denominated debt listings, with a total value of 87.4 billion US dollars. By value 52% are from UAE issuers and 48% from overseas issuers.

    Hamed Ali, Chief Executive of Nasdaq Dubai, said:

    CBD’s 600 million US dollar bond listed on Nasdaq Dubai on October 21, 2020.

    News Source: https://mediaoffice.ae/en/news/2020/November/04-11/Bank-of-Dubai-rings-market-opening-bell

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