Emirates NBD raises $1bn via sustainable bonds

Emirates NBD has raised $1 billion through the issuance of dual-tranche blue and green bonds, as it seeks to diversify its investor base.

The lender raised $300 million through a three-year blue tranche under its Euro Medium Term Note programme, and $700 million through a five-year green tranche. 

The financial terms of the bonds were not disclosed.

The transaction, the lender claimed in a statement, was the “largest blue bond issued in the GCC, and the largest dual-tranche blue-green bond issued by a financial institution globally”.

Blue bonds are a growing category of sustainable finance instruments, designed to advance and promote water-related environmental objectives.

A green bond is a type of loan that raises money specifically to fund environmentally friendly projects, such as renewable energy or clean transport.

The offering attracted  demand from global ESG-focused investors, diversifying its investor base and channelling proceeds toward marine conservation, sustainable water projects and green initiatives in line with its sustainable finance framework, updated in November 2025. 

Ahmed Al Qassim, group head of wholesale banking, said the bank will continue to mobilise capital to stimulate and safeguard the region’s environmental priorities.

Emirates NBD Capital, Citibank, HSBC, Mizuho, Standard Chartered and Société Générale were joint lead managers and joint bookrunners.

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The bonds will be dual listed on Euronext Dublin and Nasdaq Dubai.

In October the bank said its bottom line increased by 23 percent year on year to AED6.4 billion ($1.7 billion). Total operating income grew 10.4 percent, as net fee and commission income climbed by 29 percent.

Emirates NBD’s shares, which trade on the Dubai Financial Market, were down 0.5 percent at AED29.25 on Thursday morning.  

Investment Corporation of Dubai owns a 41 percent stake in Emirates NBD.