UAE’s National Properties launches 399 Hills Park project
National Properties, the real estate subsidiary of National Bonds Corporation, announced on Monday the launch of 399 Hills Park luxury residential project in Dubai Hills Estate at a investment of one billion UAE dirhams ($272.32 million) The project is scheduled for completion in the fourth quarter of 2025, the developer said in a statement. The name of the […]
Dubai Aerospace Enterprise hikes bond repurchase program by $300mln
The board of directors and shareholders of UAE-based airplane lessor Dubai Aerospace Enterprise (DAE) has authorised an additional $300 million for bond repurchases. The repurchase will be conducted through open market transactions, the company said in a statement on Wednesday. To date, DAE has repurchased approximately $1.13 billion of principal amount of its publicly traded […]
Abu Dhabi TAQA places $1.5bln in dual tranche notes
Abu Dhabi National Energy Co. (TAQA) has placed an aggregate of $1.5 billion in 5-year and 10-year dual-tranche senior unsecured notes. The $1billion 10-year notes which will mature on 24 April 2033, were issued at a coupon rate of 4.696%, the integrated utility firm said in a statement on Tuesday. They represent TAQA’s first green […]
First Abu Dhabi Bank raises $500m through Islamic bond
First Abu Dhabi Bank, the UAE’s largest lender by assets, has raised $500 million through a sukuk or Islamic bond, marking the first global sukuk issuance in 2023. The five-year sukuk was priced at 90 basis points over the US treasury rate which is the equivalent of a profit rate of 4.58 per cent and is listed […]
Dubai lender Emirates NBD to issue 3-yr dirham-denominated bond
Dubai’s biggest lender Emirates NBD has mandated banks to arrange a three-year fixed rate UAE dirham-denominated bond, a document reviewed by Reuters showed. The senior, unsecured bond, under the bank’s $20 billion medium term notes programme, will be issued subject to market conditions following a series of investor calls scheduled to begin […]
Bank of China lists $300mln bonds on Nasdaq Dubai
Bank of China, one of China’s top four state-owned banks, has listed $300 million bonds on Nasdaq Dubai, the United Arab Emirates’ state news agency WAM said on Tuesday. The bank issued the bonds, maturing in 2025, through its Dubai branch at a yield of 4.84%. The bonds, which have a coupon of 4.75%, […]
UAE to hold second auction of federal T-Bonds on June 20
The United Arab Emirates’ finance ministry said a second auction of federal treasury bonds would be held on Monday. The auction size will be 1.5 billion dirhams ($408.43 million) distributed over two tranches: a two-year tranche valued at 750 million dirhams, and a three-year tranche valued at 750 million dirhams, the ministry said on Saturday. […]
Abu Dhabi bourse announces its first green bond listing
The Abu Dhabi Securities Exchange (ADX) announced on Thursday the listing of its first green bond, which is expected to contribute to the UAE’s efforts towards a net-zero future in 2050. The $700 million fixed-rate amortising senior secured green bonds were issued by solar energy firm Sweihan PV Power Company (SPPC), which operates Noor Abu […]
Dubai Mashreq Bank shareholders approve $1bln bond issuance
Shareholders of Dubai-based Mashreq Bank have approved a special resolution for the issuance of conventional bonds for up to $1 billion. The proceeds of the bonds will be used for regulatory capital purposes and to strengthen the group’s capital adequacy ratio, the bank said in a filing on the Dubai Financial Market (DFM) on Thursday. […]
UAE to launch treasury bonds with auction size of $408mln
The UAE is set to launch next month its domestic dirham-denominated treasury bonds with a benchmark auction size of 1.5 billion dirhams ($408 million). The first auction date, to be held in May 2022, will be announced soon, followed by a series of periodical auctions, the Ministry of Finance said in a statement on Wednesday. […]