Eurasian Development Bank appoints BHM Capital as lead manager for dirham bond issuance on ADX
BHM Capital has been appointed as Lead Manager for a forthcoming UAE dirham-denominated bond issuance by the Eurasian Development Bank (EDB), with the bonds set to be listed on the Abu Dhabi Securities Exchange (ADX).
The appointment follows the signing of a mandate letter between BHM Capital and EDB, formalised in the presence of Daniyar Imangaliyev, Deputy Chairman of the Eurasian Development Bank, and Hatim Al Atabani, CEO Business & Front Office at BHM Capital.
The planned issuance marks a significant step in expanding local-currency funding options for both regional and international issuers, while reinforcing Abu Dhabi’s position as a growing global hub for debt capital markets. The dirham-denominated bonds will provide investors with exposure to a multilateral development institution through a regulated regional exchange.
Proceeds from the issuance will be used to finance high-impact investment projects across EDB’s member states in Central Asia, supporting economic development and regional integration.
Commenting on the mandate, Hatim Al Atabani said the appointment reflects BHM Capital’s capabilities in structuring, managing and distributing fixed-income instruments, as well as its commitment to strengthening the UAE’s capital markets.
Daniyar Imangaliyev highlighted BHM Capital’s expertise in local capital markets and its understanding of the regulatory and investment landscape, noting that the partnership provides a strong foundation for the successful execution of the transaction. He added that EDB has already raised AED 385 million in UAE dirham financing, and that listing the bond on ADX will help broaden the investor base while enhancing transparency and accessibility.
Imangaliyev also emphasised that integrating the financial markets of EDB’s member states with international capital markets is a core part of the bank’s mandate, citing growing interest from investors in Kazakhstan and Armenia in UAE dirham-denominated bond issuances.
The listing further underscores ADX’s expanding role as a platform for international issuers seeking access to regional liquidity and the UAE’s diversified investor base.
