RIYADH: In a first-of-its-kind listing in Dubai, the Bank of China’s Dubai branch has issued the 2025-maturing bonds at a yield of 4.84 percent as BOC’s previous such listing was issued by its Abu Dhabi branch in 2015.
Highlighting Nasdaq Dubai’s significant role in strengthening links between capital markets in Dubai and China, Li Xuhang, consul-general of the People’s Republic of China, rang the market opening bell to celebrate the listing of $300 million bonds on Nasdaq Dubai.
“A” rated by Fitch Ratings, the bonds are part of the bank’s $40 billion bond issuance program as it wants to use the proceeds for general corporate purposes.
The new listing increased the value of Chinese institutions’ bonds currently listed on Nasdaq Dubai to $ 7.5 billion through 13 issuances.
The new issuance was listed on Nasdaq Dubai on Dec. 6,…