Latest news with #GlobalMediumTermNoteProgramme
Gulf Today
12-06-2025
- Business
- Gulf Today
Nasdaq Dubai welcomes ICBC's $1.72 billion Green Bond listings
Nasdaq Dubai on Thursday welcomed the listing of three Green Bond issuances totaling $1.72 billion by Industrial and Commercial Bank of China Limited (ICBC). The bonds were issued under the bank's $20 billion Global Medium Term Note Programme by its branches in Dubai (DIFC), Hong Kong, and Singapore. These issuances further strengthened ICBC's position as the leading Chinese issuer, as well as the leading RMB denominated bond issuer on the exchange. To commemorate the successful listing, Zhang Yiming, Ambassador of the People's Republic of China to the UAE rang the bell at the market-opening ceremony at Nasdaq Dubai in the presence of Hamed Ali, CEO of Nasdaq Dubai and Dubai Financial Market (DFM) and Liu Hua, General Manager of ICBC Dubai (DIFC) Branch. Liu Hua, General Manager of ICBC Dubai (DIFC) Branch, said, 'The successful listing of ICBC's multi-currency carbon neutrality-themed green bonds issued by its branches in Dubai (DIFC), Hong Kong, and Singapore on Nasdaq Dubai reflects ICBC's confidence and commitment to the UAE capital market. As a pioneer in green financing, ICBC has significantly contributed to the environmental sustainability by extending green products, particularly within the framework of the Belt and Road Initiative. With a cumulative total of $5.6 billion outstanding bonds in the UAE, ICBC reaffirms its strategic foresight and dedication to fostering eco-friendly and sustainable development globally.' Hamed Ali, CEO of Nasdaq Dubai and DFM, commented, 'We are delighted to welcome ICBC's latest multi-currency Green Bond listings to Nasdaq Dubai, reflecting the strength of our partnership and the growing appeal of Dubai's capital markets among international issuers. These listings underscore Dubai's role as a trusted global hub for sustainable finance and reinforce our commitment to providing a transparent, innovative, and efficient marketplace that supports responsible investment. We look forward to continuing our collaboration with ICBC as they expand their ESG footprint globally.' Following this listing, Nasdaq Dubai's total debt listings have reached $136 billion, including $40 billion in bonds and $17 billion in Green Bonds. The exchange's ESG-related issuance portfolio at $29 billion, reaffirms its leadership in advancing sustainable finance across the region and beyond. Nasdaq Dubai continues to cement its position as a global leader in fixed income listings and a central platform for sustainable investment. Meanwhile Nasdaq Dubai on Tuesday welcomed the listing of a $500 million Additional Tier 1 (AT1) Sukuk issued by Sharjah Islamic Bank (SIB). The perpetual, non-call six-year AT1 Capital Certificates were issued by SIB Tier 1 Sukuk IIND Ltd and are compliant with Basel III regulations. The issuance attracted strong interest from both regional and international investors, providing Sharjah Islamic Bank with additional capital to fuel its long-term growth plans. This latest transaction brings the Bank's total outstanding on Nasdaq Dubai to $2.5 billion across five listings. It also reinforces Dubai's strategic role in advancing the Islamic capital markets ecosystem. To mark the occasion, Ahmed Saad, DCEO of Sharjah Islamic Bank, rang the market opening bell at Nasdaq Dubai in the presence of Hamed Ali, CEO of Nasdaq Dubai and Dubai Financial Market (DFM). Saad commented, 'The successful listing of our $500 million perpetual Additional Tier 1 Sukuk on Nasdaq Dubai marks a significant milestone in Sharjah Islamic Bank's strategic growth journey. This issuance reflects our strong fundamentals, robust investor confidence, and commitment to maintaining a solid capital base in line with Basel III requirements.' Ali stated, 'This listing reflects more than capital raising -it's part of a broader shift as regional institutions like Sharjah Islamic Bank lead the deepening of local debt markets. As demand for diversified, Shariah-compliant instruments continues to grow, Nasdaq Dubai is proud to serve as a trusted platform for innovation in Islamic finance. 'The momentum we are seeing in Sukuk issuances signals a maturing financial ecosystem where local ambition meets global capital flows. SIB's continued engagement underscores the strategic role financial institutions play in building resilient, forward-looking capital markets across the UAE and beyond.' With this listing, the total value of Sukuk listed on Nasdaq Dubai has reached $95.7 billion, underlining its status as one of the world's largest venues for Islamic fixed-income securities. Nasdaq Dubai's broader debt capital market has now surpassed $136 billion across 160 listings, reflecting growing international confidence in Dubai as a gateway for capital flows between the Middle East and the world. Sharjah Islamic Bank (SIB) has successfully priced $500 million perpetual Additional Tier 1 sukuk with a fixed profit rate of 6.125 per cent and a six-year non-call period, making a mark as the tightest set AT1 Issuance in 2025 globally. WAM
Zawya
01-05-2025
- Business
- Zawya
Bahrain prices $1.75bln sukuk and $750mln bond
Prices have tightened for Kingdom of Bahrain's Regulation S/144A benchmark-sized USD-denominated dual tranche issuances. They came in at 6.25% for the $1.75 billion 8-year sukuk, narrowing from initial price thoughts (IPTs) of around 6.625%, and around 7.50% for the $750 million 12-year bond, narrowing from 7.750%. Combined books were at $6.3 billion (excluding joint lead manager interest), with a skew to the sukuk tranche. The 8-year Ijara/Murabaha sukuk issuance is under the Bahrain's Trust Certificate Issuance Programme and the 12-year senior, unsecured bond is issued under Bahrain's Global Medium Term Note Programme. (Writing by Brinda Darasha; editing by Bindu Rai)
Zawya
30-04-2025
- Business
- Zawya
IPTs out for Bahrain's dual tranche USD issuances
Initial price thoughts (IPTs) for the Kingdom of Bahrain's Regulation S/144A benchmark-sized USD-denominated dual tranche issuances are around 6.625% for the 8-year sukuk and around 7.750% for the 12-year bond. Bahrain, acting through the Ministry of Finance and National Economy, had mandated banks to arrange a series of virtual fixed income investor calls on Tuesday, 29 April. The 8-year Ijara/Murabaha sukuk issuance is under the Bahrain's Trust Certificate Issuance Programme and the 12-year senior, unsecured bond is issued under Bahrain's Global Medium Term Note Programme. The kingdom is rated B+ (negative outlook) by both Fitch Ratings and S&P. Last week S&P downgraded Bahrain's outlook to "negative" from "stable" citing ongoing market volatility and weaker financing conditions that could increase the government's interest burden. Citi, First Abu Dhabi Bank, HSBC, JP Morgan and National Bank of Bahrain have been picked as joint global coordinators. Bank ABC, Dubai Islamic Bank, Emirates NBD Capital, KFH Capital and KIB Invest are mandated as joint bookrunners on the sukuk tranche. Together with the global coordinators, Bank ABC and Emirates NBD Capital are mandated as joint bookrunners on the bond tranche. The proceeds of the issuances will be utilised for general budgetary purposes. The sukuk and bonds, which will be listed on the London Stock Exchange, are expected to be rated B+ by Fitch and S&P. (Writing by Brinda Darasha; editing by Seban Scaria)
Zawya
29-04-2025
- Business
- Zawya
Bahrain mandates banks for USD 8-year sukuk, 12-year bond
Bahrain, acting through the Ministry of Finance and National Economy, has mandated banks to arrange a series of virtual fixed income investor calls commencing on Tuesday, 29 April 2025. A Regulation S /144A benchmark size dual tranche USD-denominated fixed rate transaction consisting of an 8-year sukuk under the Bahrain's Trust Certificate Issuance Programme and a 12-year senior, unsecured bond under Bahrain's Global Medium Term Note Programme will follow, subject to market conditions. The kingdom is rated B+ (negative outlook) by both Fitch Ratings and S&P. Last week S&P downgraded Bahrain's outlook to "negative" from "stable" citing ongoing market volatility and weaker financing conditions that could increase the government's interest burden. Citi, First Abu Dhabi Bank, HSBC, JP Morgan and National Bank of Bahrain have been picked as joint global coordinators. Bank ABC, Dubai Islamic Bank, Emirates NBD Capital, KFH Capital and KIB Invest are mandated as joint bookrunners on the sukuk tranche. Together with the global coordinators, Bank ABC and Emirates NBD Capital are mandated as joint bookrunners on the bond tranche. The proceeds of the issuances will be utilised for general budgetary purposes. The sukuk and bonds, which will be listed on the London Stock Exchange, are expected to be rated B+ by Fitch and S&P. (Writing by Brinda Darasha; editing by Seban Scaria)
Zawya
20-02-2025
- Business
- Zawya
Qatar markets dual tranche USD bonds; IPTs out
The State of Qatar, via the finance ministry, is marketing US dollar three-year and 10-year bonds at initial price thoughts in the Treasuries plus 60 basis points (bps) area and Treasuries + 80bps area respectively. The senior, unsecured 144A/Reg S notes will be listed on the London Stock Exchange. JP Morgan, QNB Capital and Standard Chartered are global coordinators, as well as joint lead managers with Banco Santander, Barclays, Citigroup, Credit Agricole, Deutsche Bank, Goldman Sachs and SMBC Nikko. Qatar is rated Aa2 (Moody's), AA (S&P) and AA (Fitch) (all stable outlook) and the issuance rating is expected to mirror that. The issuance comes under Qatar's Global Medium Term Note Programme. After a gap of four years, the sovereign raised $2.5 billion in May 2024 with a dual tranche green issuance, the first by a GCC member. Pricing was tight with the five-year green bond priced at T+ 30bps down from 70bps and the 10-year green bond closed at T+ 40bps, against 80bps. (Writing by Brinda Darasha; editing by Seban Scaria)
