Dubai bank ENBD eyes capital-boosting bond sale | GulfNews.com:
"Emirates NBD (ENBD), Dubai’s largest lender, plans to sell a benchmark-sized capital-boosting bond, a document from lead managers said on Monday, looking to take advantage of favourable markets to strengthen its reserves.
ENBD has chosen Citigroup, Commerzbank, Deutsche Bank, Morgan Stanley, Standard Chartered and its own investment banking arm to arrange investor meetings ahead of a potential issue, the document said, confirming what banking sources told Reuters earlier on Monday.
The US dollar-denominated bond, which will boost the bank’s Tier 1 - or core - capital, will have a perpetual tenor which can only be redeemed by the bank after six years and be of benchmark size — traditionally understood to mean worth upwards of $500 million (Dh1.84 billion)."
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