Nasdaq Dubai Lists USD 400M Bonds from Agricultural Bank of China
Nasdaq Dubai has announced the listing of USD 400 million Floating Rate Notes by Agricultural Bank of China (DIFC Branch), marking a significant milestone in China-UAE financial collaboration.
Summary
Nasdaq Dubai has listed USD 400 million Floating Rate Notes from the Agricultural Bank of China, reinforcing China-UAE economic ties and the Belt and Road Initiative.
In a significant development that underscores the deepening economic ties between China and the United Arab Emirates, Nasdaq Dubai has announced the listing of USD 400 million Floating Rate Notes by the Agricultural Bank of China (DIFC Branch). This marks the bank's second bond listing on Nasdaq Dubai, reflecting its strategic expansion into global markets.
The USD 400 million Note, issued under the USD 15 billion Medium Term Note Programme, is due in 2027. Agricultural Bank of China (ABC), one of China's 'Big Four' banks, aims to enhance Nasdaq Dubai's fixed income listing portfolio, which now stands at a total value of USD 135 billion. The bell-ringing ceremony for this listing was attended by H.E Ou Boqian, Consul General of the People's Republic of China in Dubai, and Hamed Ali, Chief Executive of Nasdaq Dubai and Dubai Financial Market (DFM).
H.E Ou Boqian praised ABC's Dubai institutions for their achievements in advancing the Belt and Road Initiative (BRI), especially as the two nations celebrate the 40th anniversary of their diplomatic relations. Her Excellency emphasized the importance of enhancing China-UAE cooperation across various fields, including financial and business sectors, to inject momentum into BRI-related investments and trade projects.
Hou Guifeng, SEO of ABC DIFC Branch, highlighted the strategic positioning of their branch in the UAE to serve the wider Middle East and North Africa region. The branch has been actively involved in projects with 'Chinese Elements,' promoting the development of solar power generation, seawater desalination, aviation, shipping, and clean energy projects. The successful issuance of Belt and Road-themed bonds is expected to further boost financial and business cooperation in the region.
Hamed Ali, CEO of DFM and Nasdaq Dubai, expressed his pleasure in welcoming the USD 400 million listing from ABC. He noted that Nasdaq Dubai is committed to providing an innovative and robust platform for global issuers to access regional and international investors.
Given the strategic importance of this listing and the ongoing collaboration between China and the UAE, investors might find this an opportune moment to consider their positions. The involvement of a major player like the Agricultural Bank of China adds a layer of credibility and potential growth, particularly in sectors aligned with the Belt and Road Initiative.
In conclusion, while the future of the Dubai Financial Market PJSC remains neutral, the current developments suggest a stable and promising environment for investors. The strategic moves by major financial institutions highlight the potential for growth and deeper economic ties in the region.
Source
Summary
Nasdaq Dubai has listed USD 400 million Floating Rate Notes issued by the Agricultural Bank of China (DIFC Branch), due in 2027. This is the bank's second bond listing on Nasdaq Dubai, reflecting deepening economic ties between China and the UAE. The issuance is part of a USD 15 billion Medium Term Note Programme and enhances Nasdaq Dubai’s fixed income portfolio, which now totals USD 135 billion in outstanding listings. The listing was celebrated with a bell-ringing ceremony attended by notable officials including H.E. Ou Boqian, Consul General of China in Dubai, and Hamed Ali, CEO of Nasdaq Dubai and DFM. The Agricultural Bank of China has been strategically expanding in the UAE to support projects aligned with the Belt and Road Initiative, contributing to sectors like solar power, seawater desalination, and clean energy. The new bond issuance is expected to boost financial and business cooperation in the Middle East and North Africa region.
