Emirates NBD, Dubai's largest lender by market value, has picked banks to arrange a new five-year dollar bond which could price as early as Wednesday, lead managers said on Wednesday.
The bank has mandated HSBC, Deutsche Bank, Bank of America, National Bank of Abu Dhabi and Emirates NBD itself for a benchmark-sized deal, normally understood to mean at least $500 million.
Initial guidance for the bond was given in the area of 337.5 basis points over midswaps. The bond would be issued under Emirates NBD's $7.5 billion programme.
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