{"id":100898,"date":"2025-02-20T00:00:00","date_gmt":"2025-02-20T00:00:00","guid":{"rendered":"https:\/\/enterpriseam.com\/uae\/uae-banks-ramp-up-debt-issuances\/"},"modified":"2025-02-20T00:00:00","modified_gmt":"2025-02-20T00:00:00","slug":"uae-banks-ramp-up-debt-issuances","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/uae\/2025\/02\/20\/uae-banks-ramp-up-debt-issuances\/","title":{"rendered":"UAE banks ramp up debt issuances"},"content":{"rendered":"

UAE<\/strong> lenders are continuing their active run in global debt mark<\/strong>ets<\/strong>, with Emirates NBD and Sharjah Islamic Bank (SIB) launching fresh issuances on Euronext Dublin and Nasdaq Dubai.<\/p>\n

#1- Emirates NBD is set to issue USD 1 bn in additional tier 1 (AT1) capital securities on Euronext Dublin and Nasdaq Dubai next week<\/strong>, Zawya<\/a> reports. The Reg S, Category 2 perpetual six-year issuance, which Emirates NBD gave initial price thoughts of 6.25%<\/a>, has a first call date in August 2030, resetting in February 2031.<\/p>\n

SOUND SMART-<\/strong> AT1 bonds allow banks to raise tier-one capital without diluting shareholder ownership and have no fixed maturity date.<\/p>\n

This would be Emirates NBD\u2019s second issuance this year<\/strong>, following a USD 700 mn issuance last month<\/a> to be listed on the Taipei Exchange. The lender set the final pricing guidance at the SOFR plus 110 bps, with denominations of USD 200k and increments of USD 1k beyond that.<\/p>\n

ADVISORS-<\/strong> Abu Dhabi Commercial Bank, Bank of America Securities, Citi, Emirates NBD Capital, First Abu Dhabi Bank (FAB), and Standard Chartered Bank are acting as joint lead managers and bookrunners.<\/p>\n

#2- SIB launches USD 500 mn sukuk:<\/strong> Sharjah Islamic Bank (SIB) plans to list a USD 500 mn Reg S five-year sukuk on Euronext Dublin and Nasdaq Dubai, with initial pricing set at T+1.25%, Zawya<\/a> reports. The issuance follows a wakala structure under SIB Sukuk Company III and is part of the bank\u2019s USD 3 bn trust certificate program.<\/p>\n

This year has seen several sukuk issuances from local banks:<\/strong> In January<\/a>, First Abu Dhabi Bank priced a USD 600 mn five-year sukuk amid strong demand with a profit rate of 5.2%. The sukuk \u2014 which was 2x oversubscribed, with initial pricing of T+100 bps \u2014 will list<\/a> on the London Stock Exchange. Damac Real Estate Development<\/a> also tapped advisors earlier this week<\/a> to organize fixed income investor calls that may be followed by a 3.5-year benchmark Reg S, USD-denominated, senior unsecured sukuk offering. UAE-based issuers\u2019 total sukuk issuance volume hit USD 14.4 bn in 2024<\/a>, with S&P Global Ratings projecting that this volume will remain steady at USD 14-15 bn in 2025, \u201cunderpinned by banks and corporate issuances.\u201d<\/p>\n

ADVISORS-<\/strong>Our friends at Mashreq, along with Emirates NBD Capital, HSBC, Standard Chartered, Abu Dhabi Islamic Bank, Dubai Islamic Bank, ICD, and Warba Bank are joint lead managers and bookrunners.<\/p>\n","protected":false},"excerpt":{"rendered":"

Emirates NBD and Sharjah Islamic Bank are set to launch fresh issuances on Euronext Dublin and Nasdaq Dubai<\/p>\n","protected":false},"author":1,"featured_media":100899,"comment_status":"","ping_status":"open","sticky":false,"template":"single-feature.php","format":"standard","meta":{"_acf_changed":false,"newspack_ads_suppress_ads":false,"newspack_popups_has_disabled_popups":false,"newspack_sponsor_sponsorship_scope":"","newspack_sponsor_native_byline_display":"inherit","newspack_sponsor_native_category_display":"inherit","newspack_sponsor_underwriter_style":"inherit","newspack_sponsor_underwriter_placement":"inherit","ep_exclude_from_search":false,"_primary_brand":0,"newspack_featured_image_position":"","newspack_post_subtitle":"","newspack_article_summary_title":"Overview:","newspack_article_summary":"","newspack_hide_updated_date":false,"newspack_show_updated_date":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[1546],"tags":[1391,68,260,7,674,66],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-100898","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-debt-watch","tag-debt","tag-debt-watch","tag-emirates-nbd","tag-enterpriseam-uae","tag-sharjah-islamic-bank","tag-sukuk","wpautop","entry"],"acf":{"mongo_id":"54231ae0-9b41-4acd-b067-e5d12177f43d","order":"3","is_powered_by":false,"story_type":"1","photo_url":"https:\/\/ent.news\/2024\/12\/1818.jpg","photo_position":"above","homepage_title":"","full_issue_title":"UAE banks ramp up debt issuances","related_issue":[100893],"teaser":"Emirates NBD and Sharjah Islamic Bank are set to launch fresh issuances on Euronext Dublin and Nasdaq Dubai","voice_url":"https:\/\/s3.us-east-1.amazonaws.com\/ent.news\/audio\/2025\/2\/.8d9f8d1c-bd88-4f2a-b31c-ca571bfde072.mp3"},"yoast_head":"\nUAE banks ramp up debt issuances - 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