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Tuesday, 9 August 2016

UAE bank UNB in talks with banks about bond issue | Reuters

UAE bank UNB in talks with banks about bond issue | Reuters:

"Union National Bank (UNB), 50 percent owned by the Abu Dhabi government, is in talks with banks about issuing a potential benchmark-sized bond, three sources aware of the matter said.

Gulf banks have been active in raising money this year as liquidity becomes less abundant because of lower oil prices and as lending growth outpaces growth in deposits.

The size of UNB's issue is still uncertain, but the sources said it was likely to be benchmark sized, which is usually taken to mean at least $500 million. The issue would be conducted under UNB's $3 billion bond programme."



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