Emirates NBD signs $2.25bn in long-term financing

• Tightest pricing in bank’s history
• Reflects ‘continued market confidence’
• Shares among hardest hit during sell-off

Emirates NBD has raised $2.25 billion in long-term financing, securing what it said is its tightest ever pricing for a syndicated loan.

Strong institutional demand enabled the bank – Dubai’s largest by assets – to nearly double the size of the five-year syndicated loan to $1.75 billion from $1 billion at launch. It also signed a separate $500 million, five-year Murabaha, or sharia-compliant, facility.

“Despite a challenging regional and global environment” Emirates NBD “achieved the tightest pricing in the bank’s history for a syndicated loan, along with an extended tenor,” a company statement said.

Emirates NBD did not disclose the spread over benchmark borrowing rates. Fifteen financial institutions from Asia, Europe and the Americas have participated in the two facilities.

“Strong oversubscription from international lenders, together with tight pricing, reflects continued market confidence in the UAE’s financial sector,” Shayne Nelson, Emirates NBD’s chief executive, said in the statement.

Emirates NBD has been among the hardest hit in a UAE stock market sell-off as international investors cut their exposure to the country’s stocks following US-Israeli attacks on Iran that have spiralled into a wider Middle East conflict.

Further reading:

• Dubai offers $272m support package for businesses
• Higher borrowing costs loom for Dubai Inc
• Dubai set for swift rebound if conclusive peace achieved

The bank’s shares are down 24 percent from a February 23 all-time high, although the stock rallied in Wednesday trade as part of a wider market rebound.

Equity investors have fretted over the potential impact of the Iran war on the UAE’s economy, and therefore the banking sector, although industry metrics indicate it can withstand such shocks.

UAE banks’ aggregate capital adequacy ratio was 16.6 percent at the end of 2025 – the minimum is 10.5 percent – while the liquidity coverage ratio was 150 percent, central bank data shows.

A liquidity coverage ratio above 100 percent shows a bank possesses sufficient assets to cover 30 days of heavy withdrawals and funding pressure.