{"id":116176,"date":"2026-04-28T00:00:00","date_gmt":"2026-04-28T00:00:00","guid":{"rendered":"https:\/\/enterpriseam.com\/uae\/?p=116176"},"modified":"2026-04-28T03:09:11","modified_gmt":"2026-04-28T03:09:11","slug":"emirates-nbd-could-reopen-regional-at1-market","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/uae\/2026\/04\/28\/emirates-nbd-could-reopen-regional-at1-market\/","title":{"rendered":"Emirates NBD could reopen regional AT1 market"},"content":{"rendered":"

Emirates NBD is raising even more funds\u2026 but this time it\u2019s from public <\/strong>markets.<\/strong> Emirates NBD is the first to test the waters for an additional tier 1 (AT1) bond since the war began, tapping a roster of banks to arrange investor meetings for a perpetual non-call six-year issuance, Bloomberg<\/a> reports, citing a person in the know. <\/p>\n

Proceeds from the USD-denominated offering, expected to follow a London roadshow, will reportedly be used for general corporate purposes<\/strong> and to support its capital base, according to a prospectus seen by Bloomberg<\/p>\n

IN CONTEXT-<\/strong> The move comes just weeks after the lender closed a USD 2.25 bn syndicated loan<\/a> and Murabaha facility at its tightest-ever pricing, and days after it reported a 3% y-o-y increase<\/a> in 1Q bottomline to AED 6.4 bn earlier this week. It also raised USD 325 mn from private markets<\/a>.<\/p>\n

It\u2019s been on a borrowing \u2014 and expansion \u2014 spree for a while now:<\/strong> The bank has been active across both debt and bank funding markets every month this year, issuing a EUR 500 mn<\/a> green bond in mid-February, just a month after its landmark USD 1 bn<\/a> blue-green bond. This comes as it inches closer to completing its USD 3 bn acquisition<\/a> of India\u2019s RBL Bank, for which it received regulatory clearance in India earlier this month. <\/p>\n

ADVISORS- <\/strong>Abu Dhabi Commercial Bank, Emirates NBD Capital, First Abu Dhabi Bank, HSBC, Barclays, Citi, and JP Morgan are quarterbacking the potential transaction as joint lead managers and bookrunners, according to Zawya<\/a>. <\/p>\n

Could the global risk-off sentiment be fading?<\/strong> While a global index of USD-hedged AT1 bonds fell 2.5% in March as markets turned risk-off, it reversed almost all of those losses in April and is now up 1.6% for the year with recent issuances from global heavyweights like HSBC and BNP Paribas. <\/p>\n

SOUND SMART- AT1 bonds are the riskiest type of bank debt<\/strong> \u2014 they sit at the very bottom of the capital stack, just above equity, because investors face a coupon risk. Unlike senior debt, a bank can skip an AT1 interest payment without it being considered a default.<\/p>\n","protected":false},"excerpt":{"rendered":"

The AT1 bond sale would be the first of its kind from a regional lender since the outbreak of the Iran war<\/p>\n","protected":false},"author":1,"featured_media":116177,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","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":[2414],"tags":[159,68,260,7,2413],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-116176","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-the-big-story-today","tag-banking","tag-debt-watch","tag-emirates-nbd","tag-enterpriseam-uae","tag-the-big-story-today","wpautop","entry"],"acf":{"mongo_id":"4176eea8-1a3b-4133-bead-c80036f58605","order":"3","is_powered_by":false,"story_type":"1","photo_url":"https:\/\/ent.news\/2024\/5\/899.jpg","photo_position":"above","homepage_title":"","full_issue_title":"ENBD to reopen regional AT1 market?","related_issue":[116171],"teaser":"The AT1 bond sale would be the first of its kind from a regional lender since the outbreak of the Iran war"},"yoast_head":"\nEmirates NBD could reopen regional AT1 market - 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