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Emirates Development Bank lists USD750m bond on Nasdaq Dubai

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Emirates Development Bank (EDB), which is wholly-owned by the government of the UAE, has listed a USD750 million bond on Nasdaq Dubai, its first product-listing on the exchange.

The listing supports EDB’s mission which includes contributing to the economic prosperity of UAE nationals by providing financing solutions for housing, as well as financing and banking services to the SME sector.
 
The total value of all conventional bonds and Sukuk on Nasdaq Dubai has now reached USD77.78 billion dollars from 99 listings. EDB’s bond was the first conventional bond listing of 2019 on the exchange. 
 
The Global Coordinators were Emirates NBD Capital and Standard Chartered Bank. The Joint Bookrunners were Emirates NBD Capital, Industrial and Commercial Bank of China, Dubai (DIFC) branch, and Standard Chartered Bank. Union National Bank was a Joint Lead Manager. The Legal Adviser to EDB was Allen & Overy and the Legal Adviser to the Arranger and Dealers was Clifford Chance.
 
Nasdaq Dubai is the largest exchange in the world for listed Sukuk at USD60.69 billion.

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