The Gulf Time Newspaper One of the finest business newspapers in the UAE brought to you by our professional writers and editors.
DUBAI/WAM
Nasdaq Dubai has announced the listing of US$400 million Floating Rate Notes by Agricultural Bank of China (DIFC Branch). This marks the bank’s second bond listing on Nasdaq Dubai amidst deepening China-UAE economic ties.
The $400 million note, issued under the $15 billion Medium Term Note Programme, is due in 2027. Agricultural Bank of China (ABC) is one of the Big Four banks in China.
The new issuance reflects ABC’s strategic expansion into global markets and enhances Nasdaq Dubai’s fixed-income listing portfolio. The total value of outstanding fixed-income listings on Nasdaq Dubai stands at $135 billion.
The bell-ringing ceremony took place in the presence of Ou Boqian, Consul-General of the People’s Republic of China in Dubai, and Hamed Ali, Chief Executive of Nasdaq Dubai and DFM.
Ou Boqian highly praised ABC’s Dubai institutions for their achievements in advancing the Belt and Road Initiative (BRI). In celebrating the 40th anniversary of the establishment of diplomatic relations between China and the UAE, Ou Boqian expressed expectations that Chinese financial institutions in Dubai, including ABC, will actively implement the spirit of the Joint Statement signed by the two governments this May, injecting financial momentum into BRI-related investments and trade projects.
Ou Boqian also emphasised the importance of enhancing China-UAE cooperation across various fields and fostering deeper people-to-people bonds.
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 and steadily promoted the implementation of the Belt and Road Initiative, deeply participating in the development of solar power generation, seawater desalination, aviation and shipping, and clean energy projects in the region. The successful issuance of Belt and Road-themed bonds will further add financial impetus and momentum to the promotion of financial and business cooperation in this region.
Hamed Ali, CEO of DFM and Nasdaq Dubai, said, “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.”