Emirates NBD has successfully priced a USD 750 million Additional Tier 1 capital issuance, becoming the first GCC bank to tap global debt capital markets since late February 2026 — a milestone that signals renewed investor confidence in UAE and regional financial markets.
The transaction drew overwhelming demand from global institutional investors across Asia, Europe, the United Kingdom and the Middle East, with total orders exceeding three times the issuance size. Strong appetite allowed the bank to tighten pricing by approximately 50 basis points, locking in a final coupon of 6.25%.
The issuance follows Emirates NBD's successful call of a previous USD 750 million AT1 instrument earlier this month, reflecting the bank's proactive approach to capital management amid a volatile global backdrop.
Ahmed Al Qassim, Group Head of Wholesale Banking, said the outcome demonstrated strong global confidence in the bank's credit fundamentals and the broader UAE economic story, noting the transaction marked a meaningful reopening of regional capital markets.
Group Treasurer Ammar Al Haj added that the robust investor response highlighted Emirates NBD's consistent access to global liquidity and its role in supporting market normalisation at a critical time.
The deal was executed with support from a wide syndicate of banks, with Abu Dhabi Commercial Bank, Barclays, Citi, Emirates NBD Capital, First Abu Dhabi Bank, HSBC and J.P. Morgan serving as Joint Lead Managers and Bookrunners. Clifford Chance advised the issuer while Linklaters represented the dealers.
The capital securities will be listed on Euronext Dublin and Nasdaq Dubai, subject to a six-year non-call period, and form part of the group's broader capital optimisation strategy.
News Source: Dubai Media Office
