Priced at 5.625% coupon, the new 5 years benchmark bond is Emirates NBD's first public senior US$ issuance since the rating upgrade by Moody's to A2. The bond was 2.5 times oversubscribed with over one-hundred institutions placing orders. 40% of demand came from the Middle East, 30% from Europe and 30% from the Rest of the World. Hesham Abdulla Al Qassim, Vice Chairman and Managing Director of Emirates NBD, said: "The successful issuance and listing of Emirates NBD's bond and the strong appetite from investors, in spite of a challenging global market environment, underscore Investors' confidence in the Bank's sound fundamentals and prospects. This healthy demand enabled Emirates NBD to price the issuance at 20 basis points below the initial price guidance. The new issuance also indicates the strong market confidence in the economy of Dubai and the UAE. We would like to thank Nasdaq Dubai for providing us with excellent links and visibility to regional and global investors."