Dubai, UAE: Commercial Bank of Dubai (CBD) has priced a USD 550 million Additional Tier 1 (AT1) perpetual non-call 6-year capital securities issuance at a fixed rate of 6.625%. The transaction forms part of CBD's capital management framework, consistent with Basel III regulatory capital requirements, and is intended to support the Bank's growth while maintaining capital ratios in excess of UAE Central Bank regulatory minimums.

Citigroup and Standard Chartered Bank acted as Joint Structuring Agents and Joint Global Coordinators, while CBD, Abu Dhabi Commercial Bank PJSC, Barclays, Citigroup, Emirates NBD Capital, First Abu Dhabi Bank, and Standard Chartered Bank acted as the Joint Lead Managers and Joint Bookrunners of the transaction. The securities are listed on Euronext Dublin and NASDAQ Dubai.

The issuance was successfully placed with strong investor interest. The transaction attracted more than USD 825 million in demand, representing approximately 1.5 times oversubscription, and was successfully executed over a two-day process comprising investor marketing, engagement and pricing. The transaction was priced at a fixed rate of 6.625%, representing an approximate 50 basis point tightening from the Initial Pricing Thoughts in the low 7% area. The transaction saw strong demand from banks, private banks, fund managers and other global investors.

The transaction follows the successful redemption of CBD's previous AT1 issuance in April 2026 and demonstrates the Bank's continued access to international debt capital markets. CBD achieved a final yield of 6.625% for the USD 550 million transaction, priced on 8 July 2026. The transaction achieved the second lowest reset spread for a conventional GCC AT1 in 2026 underscoring CBD’s fundamentals and disciplined capital management framework.

Dr. Bernd van Linder, Chief Executive Officer of CBD, commented: “This issuance supports CBD’s long-term capital planning and reinforces the confidence placed in the Bank by regional and international investors. As the UAE economy continues to expand and with CBD's total assets growing consistently, we remain focused on supporting our customers, investing in our strategic priorities, and delivering sustainable value for all stakeholders. We are grateful to our investors and partners for their continued trust and support.”

Darren Clarke, Chief Financial Officer of CBD, added: “The pricing of this AT1 issuance at 6.625% reflects the quality of CBD’s credit profile and institutional investor appetite for GCC bank instruments. The transaction raises our Tier 1 capital ratio, in line with our medium-term capital planning targets.”

About Commercial Bank of Dubai

Commercial Bank of Dubai DFM:CBD is a Public Shareholding Company established in 1969 by an Emiri Decree issued by the late Sheikh Rashid bin Saeed Al Maktoum. CBD provides a comprehensive range of retail and commercial banking products and services through an extensive network of branches and ATMs in the UAE.

As of Q1 2026, the Bank reported total assets of AED 157.9 billion and a net profit of AED 912 million before tax, reflecting its strong market standing and ongoing growth. The Bank delivers a full suite of personal, elite, private, business, corporate and institutional banking services through both conventional and Shari’ah-compliant formats. These are further supported by advanced digital platforms, including a next-generation mobile app and the award-winning iBusiness platform. Recognised for its innovation and digital leadership, CBD actively supports national development goals while backing its customers and enabling their growth through financial technology, Emiratization, and strategic partnerships.

For media enquiries, please contact CBD’s PR and Media team at cbd.ogilvypr@ogilvy.com.

For investor enquiries, please contact CBD’s Investment team at +9714 212 1814 or cbd.investmentsoulutions@cbd.ae.

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