Emirates NBD, the UAE’s second-largest lender, has successfully issued a $500 million sustainability-linked loan (SLL) bond under its $20 billion Euro Medium Term Note (EMTN) program. The bond, listed on Euronext Dublin and NASDAQ Dubai, marks a significant step toward advancing sustainable finance in the region.
The five-year senior unsecured notes are rated A2/A+ by Moody’s and Fitch, aligning with Emirates NBD’s credit rating. The bond was priced at initial price thoughts (IPTs) of Treasuries plus 125 basis points, with interest payments commencing on May 26, 2025, and continuing annually until maturity on November 26, 2029.
Proceeds from the issuance will be allocated to the SLL Funding Assets Portfolio, aimed at financing or refinancing projects in line with sustainability objectives. Emirates NBD Capital and HSBC Bank served as joint sustainability structuring agents, with HSBC also acting as the billing and delivery bank. The bond was managed by joint lead managers and bookrunners, including Emirates NBD Capital, First Abu Dhabi Bank, HSBC, the Industrial and Commercial Bank of China, and Société Générale.
This issuance underscores Emirates NBD’s commitment to sustainability and aligns with global trends promoting environmentally conscious financial practices. By channeling proceeds toward sustainable initiatives, the bank continues to play a pivotal role in fostering green economic growth in the UAE and beyond.
