National Bank of Abu Dhabi (NBAD), the UAE's largest lender by market value, is eyeing a 10 billion yen ($124.7 million) bond issue, an official said, in the first such issue from a Middle Eastern bank.
NBAD has mandated HSBC and Mitsubishi UFJ Morgan Stanley for its debut yen-denominated bond issue, IFR, a unit of Thomson Reuters, reported earlier on Wednesday, noting the earliest indicated pricing date as July 8.
"We are extending our liability profile and diversification is also key for us" Mahmoud al Aradi, general manager, financial markets group at NBAD told Reuters by phone.
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