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Emirates NBD Issues $1 Billion Dual Blue-Green Bond

Emirates NBD Issues $1 Billion Dual Blue-Green Bond

Emirates NBD has completed a $1 billion dual-tranche sustainable bond issuance, the largest of its kind by a financial institution globally and the largest blue bond issued in the UAE and the Gulf. The offering, issued under the bank’s Euro Medium Term Note program, consists of a $300 million blue bond with a three-year maturity and a $700 million green bond with a five-year maturity.

Proceeds from the bonds are aligned with the United Nations Sustainable Development Goals, specifically climate action and the protection of marine ecosystems. The issuance follows Emirates NBD’s Sustainable Finance Framework, updated in November 2025, and adheres to the International Capital Market Association’s Green Bond Principles, as well as emerging standards for blue bonds.

The transaction drew strong demand from international investors focused on environmental, social and governance strategies. T. Rowe Price, a global asset manager active in ocean- and water-related investments, participated in the blue tranche. The bonds will be listed on Euronext Dublin and Nasdaq Dubai.

The deal was arranged by a syndicate led by Emirates NBD Capital and Citibank, alongside major international banks. Legal advisers included Clifford Chance for the issuer and Linklaters for the banks.

Photo credits: Government of Dubai Media Office

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Oksana Bozhko

Oksana Bozhko is a Contributor to Dubai Voice.

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