Nasdaq Dubai Welcomes ICBC’s Multi-Currency Green Bond Listings Totaling US$1.72 Billion

Nasdaq Dubai has announced the listing of three Green Bonds by the Industrial and Commercial Bank of China Limited (ICBC), amounting to US$1.72 billion. These bonds were issued under ICBC's US$20 billion Global Medium Term Note Programme through its branches in Dubai (DIFC), Hong Kong, and Singapore. This move further solidifies ICBC's status as a leading issuer on the exchange.

Liu Hua, General Manager of ICBC Dubai (DIFC) Branch, highlighted the significance of these listings. "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 environmental sustainability by extending green products, particularly within the framework of the Belt and Road Initiative. With a cumulative total of US$5.6 billion outstanding bonds in the UAE, ICBC reaffirms its strategic foresight and dedication to fostering eco-friendly and sustainable development globally."

The listings include three distinct issuances: US$1 billion Floating Rate Notes due 2028 from ICBC's Hong Kong Branch, US$300 million 4.125% Notes due 2028 from its Singapore Branch, and CNH3 billion 2.00% Notes due 2028 from its Dubai (DIFC) Branch. These issuances enhance ICBC’s leadership as a Chinese issuer and as a prominent RMB-denominated bond issuer on Nasdaq Dubai.

Hamed Ali, CEO of Nasdaq Dubai and DFM, expressed enthusiasm about the listings: "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."

The ceremony marking this achievement featured Zhang Yiming, Ambassador of China to the UAE, who rang the bell at Nasdaq Dubai's market-opening event. Hamed Ali and Liu Hua were present during this occasion.

Expanding Debt Listings Portfolio

Following these listings, Nasdaq Dubai's total debt listings have reached US$136 billion. This includes US$40 billion in bonds and US$17 billion in Green Bonds. The exchange’s portfolio related to ESG issuance now stands at USD29 billion, highlighting its leadership in promoting sustainable finance both regionally and globally.

Nasdaq Dubai continues to establish itself as a key player in fixed income listings while serving as a central platform for sustainable investments worldwide.

With inputs from WAM