UAE's RAKBANK starts marketing 5-yr dollar bond at around 210 basis points over mid-swaps - document | Reuters:
The United Arab Emirates’ RAKBANK started marketing a five-year dollar bond issue on Tuesday with an initial price guidance of about 210 basis points over mid-swaps, a document issued by one of the banks leading the deal showed.
The bank, rated Baa1 by Moody’s and BBB+ by Fitch, is expected to price the notes later on Tuesday. Bank ABC, Citi, Emirates NBD Capital, First Abu Dhabi Bank, ICBC and Standard Chartered Bank have been hired to arrange the deal.
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