Image credit: Emirates News Agency
China’s finance ministry has listed two bonds with a total value of $2bn on Nasdaq Dubai, reaffirming the exchange’s role as a critical gateway for capital flows between Asia and the Middle East with debt issuances from more than 14 countries.
The listing “aligns with the UAE’s commitment to enhance economic and financial collaboration with China, a partnership that has flourished over four decades of diplomatic relations”.
Nasdaq Dubai said the two tranches consist of a $1.25bn three-year bond and a $75m bond five-year bond.
Chinese entities have a notable presence on the exchange, with over $22bn in debt listed to date.
China’s big four banks – the Industrial and Commercial Bank of China, Bank of China, China Construction Bank Corporation, and the Agricultural Bank of China – have long been active issuers on Nasdaq Dubai. The four lenders have regional headquarters in the Dubai International Financial Centre.
“This landmark issuance underscores Nasdaq Dubai’s position as a bridge for global capital, facilitating robust financial market interactions. We are proud to support these issuances, which celebrate decades of UAE-China relations and reinforce our mutual goals of strengthening economic and financial market ties,” said Hamed Ali, the CEO of Nasdaq Dubai and the Dubai Financial Market.
With the listing, Nasdaq Dubai’s cumulative bond listings have reached $42bn, while total debt listings stand at $135bn across 156 issuances, of which more than 50 per cent are sovereign issuances.
Meanwhile, Indonesia listed three Islamic bonds or sukuks in July, with a total value of $2.35bn, under its $35bn trust certificate issuance programme on Nasdaq Dubai. The listing brings the Southeast Asia nation’s total value of issuances listed on the exchange to $24.1bn.
The three tranches consist of $750m in trust certificates due 2029, $1bn in trust certificates due 2034, and $600m in trust certificates due 2054, which is a green sukuk.
The total debt listed on Nasdaq Dubai has surpassed $134.1bn, with sukuk comprising $93.89bn. The exchange also leads in sustainability-linked bond listings, with green issuances totalling $19.7bn out of the $29.75bn in ESG-related issuances.