The Emirates NBD has launched digital bonds worth 1 billion dirhams (approximately $272 million), marking a significant advancement in the digital transformation of regional financial markets.
The issuance was executed through Euroclear’s digital market infrastructure platform utilizing blockchain technology, as reported by Ledger Insight.
These bonds have a maturity period of three years and an interest rate of 4.25%, with strong investor demand resulting in subscriptions exceeding the available amount by 1.3 times.
The issuance retained the same credit ratings as the bank’s traditional bonds, receiving an (A1) rating from Moody’s and an (A+) from Fitch, both with a stable outlook.
Fitch also noted that the use of distributed ledger technology does not introduce any new credit risks, highlighting the bank’s business continuity plans.
This bond issuance follows similar digital offerings from regional banks through global platforms, reinforcing Dubai’s status as a leading center for financial innovation and advanced banking technology.