Bank of China lists $500 m bond on Nasdaq Dubai after record tight spread

A USD 500 million floating-rate bond issued by Bank of China Dubai Branch has been listed on Nasdaq Dubai under its USD 40 billion Medium Term Note Programme, maturing on 24 November 2028. The three-year conventional bond achieved the narrowest issuance spread for a US-dollar bond of comparable tenor among Chinese banks, signaling robust investor confidence in the issuer’s credit standing.

The listing boosts Bank of China’s total outstanding debt instruments on Nasdaq Dubai to about USD 1.9 billion across multiple maturities. This milestone reinforces the growing footprint of Chinese financial institutions on the platform.

During the ceremonial bell-ringing, the Consul General of China in Dubai, Ou Boqian, joined the CEO of Nasdaq Dubai and Dubai Financial Market, Hamed Ali. Ou Boqian remarked that the bond issuance underscores the expanding influence of Chinese financial institutions in global capital markets and highlights Dubai’s evolving role as an international financial hub. Hamed Ali described the transaction as a testament to the long-standing relationship between Bank of China and Nasdaq Dubai, while emphasising the exchange’s ability to connect issuers to a geographically diversified investor base.

Proceeds from the issuance will be directed to support cooperation in infrastructure, energy, and other sectors within the United Arab Emirates, according to Bank of China’s Dubai Branch. The bank stated that this move aligns with its larger ambition to strengthen financial connectivity between China and Arab markets, while advancing bilateral economic and trade collaboration.

The successful offering by Bank of China forms part of a broader wave of Chinese-issuer activity on Nasdaq Dubai. Alongside this bond, other Chinese financial institutions — including China Development Bank, Industrial and Commercial Bank of China, Agricultural Bank of China and China Construction Bank — have collectively raised more than USD 27 billion through fixed-income listings on the exchange. The cumulative value of debt securities on Nasdaq Dubai has now surpassed USD 145 billion, underscoring the platform’s emergence as a dominant venue for international bond and sukuk issuance in the region.