Mashreq Prices Debut CNH 1 Billion Dim Sum Bond at 2.50% Coupon

UAE-based Mashreq has priced its inaugural CNH 1 billion three-year senior unsecured Dim Sum bond at a fixed coupon of 2.50 percent. The orderbook peaked at CNH 2.3 billion, representing an oversubscription of more than two times.

Published October 16, 2026 Source: TradeArabia

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UAE-based financial institution Mashreq has priced its inaugural CNH 1 billion three-year senior unsecured Dim Sum bond at a fixed coupon of 2.50 percent, marking the bank's first public issuance in the offshore renminbi market. The transaction was structured to diversify the bank's funding profile across international capital markets and strengthen financial links between the UAE, China, and Hong Kong under the Belt and Road Initiative.

Following a one-day virtual investor marketing exercise on 13 October, the orderbook opened on 14 October and peaked at CNH 2.3 billion, achieving an oversubscription rate of more than two times. Mashreq Group CEO Ahmed Abdelaal stated that the issuance reflects the bank's commitment to deepening engagement with Asian investors and connecting capital markets across the GCC–Asia corridor.

The issuance was supported by Bank of China, China International Capital Corporation (CICC), China Securities Co. (CSC), Guotai Junan International (GTJAI), Industrial and Commercial Bank of China (ICBC), and Standard Chartered, which served as joint lead managers and bookrunners.

The bond is scheduled to be listed on Nasdaq Dubai and the Luxembourg Stock Exchange. Settlement is structured through Euroclear and Clearstream, with operational links to Hong Kong's Central Moneymarkets Unit (CMU) to accommodate international and regional investors.