UPDATE 1-UAE's EDB sets final price guidance for debut dollar bond -document | Reuters:
Emirates Development Bank (EDB), owned by the United Arab Emirates federal government, set final price guidance for its $750 million dollar bond issue at 98 basis points over midswaps, a document issued by one of the banks leading the deal showed on Wednesday.
Orders for the five-year senior unsecured bonds, EDB’s debut dollar issue, totalled almost $3.5 billion. Emirates NBD Capital and Standard Chartered Bank are coordinating the sale. Emirates Development Bank is rated AA-(minus) by Fitch.
The pricing for the issue was revised from earlier guidance of around 130 basis points over mid-swaps.
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