China Development Bank (CDB) has listed dual-currency bonds worth USD 1 billion on Nasdaq Dubai, marking a significant milestone in cross-border finance and reinforcing Dubai’s role as a global hub for fixed income investment.
The landmark issuance includes a USD 500 million three-year floating-rate bond and a EUR 500 million three-year fixed-rate bond. Both tranches, rated A1 by Moody’s, attracted overwhelming investor demand—underscoring strong global appetite for Chinese credit and confidence in Dubai’s market infrastructure.
The euro tranche saw record demand, oversubscribed 15 times—setting a new high for a Chinese bank’s public bond issuance. The US dollar tranche was oversubscribed three times, achieving the tightest spread to SOFR among similar issuances from Chinese institutions.
Investors spanned across Europe, the Middle East, and Asia, with participation from sovereign entities, asset managers, and global banks. Notably, over 30% of euro tranche allocations went to top-tier Supranational, Sovereign, and Agency (SSA) investors.
Hamed Ali, CEO of Nasdaq Dubai and DFM, said the listing further deepens ties with Chinese financial institutions and reaffirms Dubai’s standing as a reliable platform for cross-border capital flows.
CDB’s dual-currency offering aligns with its broader strategy to diversify funding and grow its international investor base. Since 2015, the bank has raised USD 42.5 billion through offshore issuances in multiple currencies.
Nasdaq Dubai now hosts over USD 13.4 billion in Chinese fixed income listings and more than USD 136.2 billion in total debt issuances.
News Source: Emirates News Agency
