Dubai: Nasdaq Dubai saw the listing of two bonds with a total value of $1 billion from the Industrial and Commercial Bank of China, the world’s largest bank by assets.
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The bonds, worth $500 million each, bring the total value of all bonds listed on Nasdaq Dubai by the Chinese bank to $4.56 billion from nine issuances. This is the highest value of conventional bond listings on the exchange by any overseas issuer.
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All the bonds were issued by the International and Commercial Bank of China’s branch in Dubai, and were listed on October 17, 2019.
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The listings highlight the financial and economic relationship between Dubai and China, which is the UAE’ largest non-oil trading partner.
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