DUBAI, 3rd September, 2026 (WAM) -- Nasdaq Dubai welcomed the listing of US$713 million in dual-currency green bonds by Industrial and Commercial Bank of China Limited (ICBC).

Issued under ICBC's US$20 billion Global Medium Term Note Programme via its ICBC Dubai (DIFC) Branch, the dual-tranche issuance carries the theme "China-Arab States Renewable Energy Cooperation".

The listings include US$300 million three-year floating-rate notes, priced at SOFR +35 basis points; CNH 2.8 billion (approximately US$413 million) fixed rate bond.

Proceeds from the green bonds will be allocated towards carbon neutrality, renewable energy and sustainable infrastructure projects.

The listing reinforces Dubai's status as a premier international hub for fixed income issuances and cross-border capital flows.

The issuance attracted international and regional investor demand across both tranches. The US$tranche was oversubscribed 3.8 times with an order book of US$1.2 billion, while the CNH tranche was oversubscribed 3.5 times with an order book of CNH 10.0 billion.

With this listing, ICBC now has US$4.24 billion in outstanding bonds across four issuances on Nasdaq Dubai.

To mark the listing, Zeng Jixin, Ambassador of the People's Republic of China to the United Arab Emirates, rang the market-opening bell at Nasdaq Dubai, alongside Hamed Ali, CEO of Nasdaq Dubai and Dubai Financial Market (DFM), and senior representatives from both organisations.

Liu Hua, General Manager of ICBC Dubai (DIFC) Branch, said, "The successful listing of ICBC's dual-currency 'China-Arab States Renewable Energy Cooperation' themed green bonds issued by its branch in Dubai (DIFC) on Nasdaq Dubai reflects ICBC's confidence and commitment to the UAE capital market. As a pioneer in green financing, ICBC has significantly contributed to environmental sustainability by extending green financial solutions, particularly within the framework of the Belt and Road Initiative.

"With a cumulative total of US$4.24 billion in outstanding bonds listed on Nasdaq Dubai, ICBC reaffirms its strategic foresight and dedication to fostering eco-friendly and sustainable development globally."

Hamed Ali, CEO of Nasdaq Dubai and DFM, said, "ICBC's latest dual-currency green bond listing reflects the continued connection between China and global capital markets, reinforcing Dubai's role as a primary international destination for cross-border capital raising and sustainable finance.

"The strong demand across both the US Dollar and Renminbi tranches highlights the growing investor appetite for high-quality ESG instruments issued through our platform. We look forward to continuing our close collaboration with ICBC as they expand their sustainable footprint globally."

Total outstanding debt on Nasdaq Dubai has surpassed US$143.9 billion including US$98.4 billion in Sukuk and US$45.4 billion in bonds, with ESG related listings accounting for US$27.5 billion.