gulfnews : UNB to test market for benchmark-sized bond

Union National Bank (UNB) is eyeing a dollar-denominated benchmark bond issue after planned investor meetings next week, which will test market appetite for regional debt amid a charged global economic backdrop.

UNB has picked five banks for the potential issue, it said yesterday, with roadshows due to kick off on Sunday in Abu Dhabi and Dubai, followed by Asia.

Citi, Deutsche Bank, HSBC, National Bank of Abu Dhabi and Standard Chartered were given the mandate for the bond, which will be issued subject to market conditions following investor meetings.

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