National Bank of Abu Dhabi , the largest lender by market value in the United Arab Emirates, picked four banks to arrange a benchmark-sized bond issue which could price within a day, lead arrangers said on Monday.
Initial price guidance for a seven-year, dollar-denominated deal has been given in the area of midswaps plus 200 basis points, with books closing as early as Monday, a document from the leads said.
While bond issuance in August is traditionally rare, with many in the finance sector away on vacations, the turbulent market conditions of recent months mean issuers are keen to take advantage of windows whenever they appear.
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