Dubai: Emirates NBD said post its new listing on Sunday it became the largest issuer of conventional bonds in Nasdaq Dubai.
The company has a total of three listings worth $2.25 billion of a total of $6.74 billion on the exchange, it said in a statement.
“We look forward to cooperating further with Nasdaq Dubai in order to strengthen and deepen the capital markets infrastructure in the region. All market participants stand to gain from our pursuit of mutually beneficial activities and enterprises at a time of rising economic optimism,” said Shayne Nelson, Chief Executive of Emirates NBD.
As on June 30, 2014, the total assets of Emirates NBD’s, which is a leading banking group in the region, were Dh348.3 billion or $94.8 billion. The Group has operations in the UAE, Egypt, the Kingdom of Saudi Arabia, Qatar, Singapore, the United Kingdom.
Analysts expect to see more bond issues coming next year.
“We have seen a little bit issuance from companies trying to tap attractive financing rates. We expect more bond issues coming to the market,” said Saleem Khokhar, head of equities at NBAD’s asset management group.
Nasdaq Dubai is the third largest exchange in the world by value for listed sukuk, or Islamic bonds, at $19.2 billion. It is currently operating a pilot scheme for trading both sukuk and conventional bonds on its market.
“The exchange will continue to support efficient capital-raising activities for a range of issuers that are active in a variety of sectors and industries,” said Abdul Wahed Al Fahim, Chairman of Nasdaq Dubai.
