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Dubai's Mashreq Bank prices debut CNH 1bn dim sum bond at 2.50% coupon
Dubai-headquartered Mashreq Bank priced on Oct 15 its inaugural public offshore renminbi bond: CNH 1bn, 3-year, fixed 2.50% coupon, more than 2x oversubscribed, to list on the Luxembourg Stock Exchange and Nasdaq Dubai.
Why it matters
This is the first time a Dubai-based bank has tapped the offshore renminbi capital market, marking a new step in the China–UAE trade corridor at the financial level. More than 2x oversubscription also signals international investor appetite for renminbi bonds.
Full report
Dubai-headquartered Mashreq Bank priced on October 15, 2026 its inaugural publicly issued offshore renminbi bond (dim sum bond): CNH 1 billion, 3-year senior unsecured, with a fixed coupon of 2.50%. The order book peaked at CNH 2.3 billion, more than 2x oversubscribed. Joint bookrunners were Bank of China, CICC, China Securities, Guotai Junan International, ICBC and Standard Chartered. The bond will be listed on the Luxembourg Stock Exchange and Nasdaq Dubai. Mashreq's Group CEO said in the official press release that this is a significant step in diversifying the bank's funding channels.
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