Emirates NBD Capital’s debt capital markets (DCM) team led 24 transactions in Q1 2021 raising over $18bn for its sovereign, financial institutions and corporate clients. Emirates NBD Capital also continued to grow its Environmental, Social and Governance (ESG) practice, leading a further five ESG issuances in Q1 including the first ESG issuance in Russia in 2021 – a $300m ESG bond for Sovcombank, the third largest privately-owned bank in Russia by total assets. Emirates NBD Capital also led on the debut $450m green bond from Delhi International Airport Limited and a $561m green bond for Continuum Energy Levanter Pte Ltd. Its transactions came from 12 geographies including members from the GCC, China, Hong Kong, India, Kazakhstan, Maldives, Pakistan, Russia, and the UK.
Emirates NBD Capital undertook significant transactions including the Pakistan’s $2.5bn bond, the largest ever USD bond offering from Pakistan and its largest 30-year offering and first ever triple-tranche offering; a $1.75bn bond for Galaxy Pipeline Assets Bidco Limited; and the Credit Bank of Moscow’s EUR600m bond – the largest ever private sector EUR-denominated bond offering from Russia and first transaction from Russia and the CIS region in 2021. Notably, the investment bank also led on several landmark sukuk transactions including a GBP500m sukuk for The Lords Commissioners of Her Majesty’s Treasury – UK Government, the largest ever sukuk offering from a Western government issuer; and a $200m sukuk for the Government of the Republic of Maldives, for which around 50 per cent allocation was to Middle East investors.