Agricultural Bank Of China Strengthens Global Presence With $400 Million Bond Listing On Nasdaq Dubai
Nasdaq Dubai has listed US$400 million Floating Rate Notes from the Agricultural Bank of China (DIFC Branch). This is the bank’s second bond listing on Nasdaq Dubai, reflecting the growing economic ties between China and the UAE. The $400 million note, issued under a $15 billion Medium Term Note Programme, will mature in 2027.
The bell-ringing ceremony for this listing was attended by Ou Boqian, Consul-General of China in Dubai, and Hamed Ali, Chief Executive of Nasdaq Dubai and DFM. Ou Boqian commended ABC's Dubai institutions for their contributions to the Belt and Road Initiative (BRI). He also highlighted the importance of strengthening China-UAE cooperation across various sectors.
In honour of the 40th anniversary of diplomatic relations between China and the UAE, Ou Boqian expressed hopes that Chinese financial institutions in Dubai, including ABC, will actively implement the spirit of the Joint Statement signed by both governments in May. This would inject financial momentum into BRI-related investments and trade projects.
Hamed Ali stated, "We are pleased to welcome the $400 million listing from ABC on Nasdaq Dubai. As the premier global hub for international bond listings, the exchange is committed to providing an innovative and robust platform for global issuers to access regional and international investors. We look forward to supporting ABC in their continued growth and success in the international capital markets."
The new issuance signifies ABC's strategic expansion into global markets while enhancing Nasdaq Dubai’s fixed-income listing portfolio. The total value of outstanding fixed-income listings on Nasdaq Dubai now stands at $135 billion.
Hou Guifeng, SEO of ABC DIFC Branch, noted that in recent years, the branch has been strategically positioned in the UAE to serve the wider Middle East and North Africa region. Focused on projects with Chinese elements, the branch has actively promoted BRI implementation. They have participated in solar power generation, seawater desalination, aviation and shipping, and clean energy projects.
Ou Boqian also emphasised fostering deeper people-to-people bonds between China and UAE. He praised ABC's achievements in advancing BRI through their operations in Dubai.
Belt and Road Initiative Impact
The successful issuance of Belt and Road-themed bonds will further add financial impetus to promoting financial and business cooperation in this region. This aligns with ABC's goal to support BRI-related investments.
The Agricultural Bank of China (ABC) is one of China's Big Four banks. Their recent bond issuance underlines their commitment to expanding globally while supporting regional economic initiatives like BRI.
This new listing not only strengthens ABC's presence but also enhances Nasdaq Dubai’s role as a key platform for international bond listings. It offers global issuers access to regional and international investors through a robust platform.
With inputs from WAM
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