Tuesday 7 November 2017

Dubai's Emirates NBD launches $750mln five-year bond | ZAWYA MENA Edition

Dubai's Emirates NBD launches $750mln five-year bond | ZAWYA MENA Edition:

" Emirates NBD , Dubai's largest bank, launched a $750 million five-year bond at 125 basis points (bps) over mid-swaps, a document from one of the banks leading the deal showed on Tuesday. Initial price guidance for the senior unsecured Regulation S bond was in the 140 bps over mid-swaps area earlier on Tuesday and tightened by 10 bps as the deal was marketed, attracting more than $1.4 billion in orders. ENBD Capital, HSBC, Nomura, Societe Generale and Standard Chartered Bank are joint bookrunners on the bond issue, which is expected to be rated A+ by Fitch and A3 by Moody's. "



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