China Development Bank (CDB) has listed over $1 billion worth of dual-currency bonds on Nasdaq Dubai.
This listing includes a $500 million three-year floating-rate segment and a €500 million three-year fixed-rate segment, each designed to appeal to a diverse range of investors.
Moody’s has given the bonds an A1 rating, an indication of quality and trustworthiness in the eyes of global finance watchers. This dual-currency release is part of a broader strategy by CDB to bolster its foreign currency funding options and attract a wide range of investors. And it seems to be working.
The European tranche drew particularly avid interest, being oversubscribed fifteen times. Meanwhile, the dollar–denominated tranche was oversubscribed three times over, drawing attention primarily from Europe, the Middle East, and Asia.
Investors included banks, sovereign entities, funds, and asset managers from key financial centres such as Switzerland, Germany, the UK, Spain, the Middle East, and Asia. High-quality Supranational, Sovereign, and Agency (SSA) investors accounted for over 30% of the euro tranche allocations.
Hamed Ali, CEO of Nasdaq Dubai and Dubai Financial Market (DFM), said: “We are pleased to welcome China Development Bank’s landmark dual-currency bond listing to Nasdaq Dubai, further strengthening our deepening ties with China’s leading financial institutions. This milestone underscores Dubai’s position as a trusted global hub for cross-border capital flows and highlights the confidence international investors place in Dubai’s market infrastructure.”
This robust presence of Chinese bonds amidst the diverse offerings has pushed the total debt issuances on Nasdaq Dubai past the $136.2 billion mark, confirming the exchange’s appeal for issuing large international financial products.
