DUBAI (ALETIHAD)
Emirates NBD has successfully priced a $750 million Additional Tier 1 (AT1) capital issuance, marking the first debt capital markets transaction from a GCC issuer since late February 2026.
The issuance follows the bank’s earlier call of a $750 million AT1 instrument this month and reflects its ongoing capital optimisation strategy.
The transaction is seen as a key milestone, signalling a reopening of regional capital markets after a period of heightened uncertainty.
The AT1 issuance attracted strong and diversified demand from global institutional investors across Asia, Europe, the United Kingdom and the Middle East.
The deal was more than three times oversubscribed, highlighting sustained investor appetite for high-quality regional issuers despite market volatility.
Strong demand enabled Emirates NBD to price the issuance within guidance, tightening by around 50 basis points and setting a final coupon of 6.25%.
The outcome reflects investor confidence in the bank’s credit fundamentals, capital position and long-term strategy, as well as the resilience of the UAE and wider GCC financial markets.
Ahmed Al Qassim, Group Head of Wholesale Banking at Emirates NBD, said: “This landmark issuance underscores the strong global confidence in Emirates NBD’s credit fundamentals, the resilience of our franchise and the compelling strength of the UAE’s economic story.”
Ammar Al Haj, Group Treasurer and Head of Global Markets at Emirates NBD, said: “The strong investor response reflects sustained appetite for high-quality UAE issuers and underscores Emirates NBD’s consistent access to global liquidity pools.”
He noted that the transaction helped reinforce confidence in UAE capital markets and provided a constructive signal to investors following recent geopolitical uncertainty.