Photo credit: WAM
Dubai, UAE — April 2026 — Emirates NBD has successfully priced a $750 million Additional Tier 1 capital issuance, marking the first debt capital market transaction from a GCC corporate or financial institution since late February 2026.
According to the Emirates News Agency, the move follows the bank’s recent call of a previous $750 million issuance earlier this month, underscoring its agile capital management and the deep global trust placed in the UAE and the wider Gulf financial ecosystem.
The AT1 deal drew strong, well-diversified demand from institutional investors across Asia, Europe, the United Kingdom, and the Middle East, with the order book oversubscribed more than three times despite ongoing market volatility.
Emirates NBD priced the transaction within initial guidance, achieving a tightening of roughly 50 basis points and a final coupon of 6.25 percent. Ahmed Al Qassim, Group Head of Wholesale Banking, said the issuance reflects solid global confidence in the bank’s credit fundamentals and the exceptional strength of the UAE’s economic outlook.
Ammar Al Haj, Group Treasurer and Head of Global Markets, added that the significant investor engagement signals sustained appetite for high-quality instruments from UAE institutions and reaffirms the bank’s status as a benchmark issuer.
A syndicate of regional and international banks, including Abu Dhabi Commercial Bank, Barclays, Citi, Emirates NBD Capital, First Abu Dhabi Bank, HSBC, and J.P. Morgan, acted as Joint Lead Managers and Joint Bookrunners.
Clifford Chance served as legal counsel to the issuer, while Linklaters advised the lead managers. The securities will be listed on Euronext Dublin and Nasdaq Dubai with a six-year non-call period.
