DUBAI: Commercial Bank of Dubai (CBD) has announced the issuance of a five-year senior unsecured bond, valued at $500 million, featuring a fixed coupon rate of 4.864 per cent.
The strategic financial maneuver is indicative of the bank’s robust position in the market and its commitment to attracting investment while securing favourable funding conditions.
The bond is slated for settlement on October 10, 2024, with a maturity date set for October 10, 2029. This timeline allows investors to benefit from a stable return over a defined period, aligning with the broader trends within the fixed-income market that favor medium to long-term instruments.
The decision to list the bond in Dublin, a renowned international financial center, further enhances its visibility and attractiveness to a global investor base.
To facilitate this bond issuance, CBD has appointed a consortium of reputable institutions as bookrunners, including Citibank, Commerzbank, Emirates NBD Capital, First Abu Dhabi Bank, JPMorgan Chase, and Standard Chartered.
The involvement of these leading banks underscores the bond’s anticipated appeal, leveraging their expertise to ensure successful market penetration and distribution.
