The perpetual bond pays a coupon of 4.25 percent, the lowest pricing for a conventional Tier 1 bond from the UAE DUBAI: The group CEO of Emirates NBD, Shayne Nelson, rang the market-opening bell at Nasdaq Dubai on Wednesday to celebrate the listing of a $750 million bond. The perpetual bond pays a coupon of 4.25 percent, the lowest pricing for a conventional Tier 1 bond from the UAE. It was 2.3 times oversubscribed with a strong demand from the region – 64 percent of interest from the Middle East, 12 percent each from Asia and Europe, 10 percent from the UK and 2 percent elsewhere. “The successful issuance and listing of the second bond from Emirates NBD in 2021 underlines investor confidence in the fundamentals and prospects of the Bank as one of the largest banking groups in the region,” Hesham Abdulla Al-Qassim, vice chairman and managing director of Emirates NBD said. He said it also reflects a positive outlook for the UAE’s economy, especially as the UAE pursues an energetic pandemic exit strategy lead by a massive vaccination drive. The listing also reflects the issuers’ confidence in the “robust capital market environment and proficiencies” of Dubai, said Abdul Wahed Al-Fahim, the chairman of Dubai Financial Market.