Dubai's Emirates NBD Sets IPTs For $500m, 5-Year Bond Issue
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Dubai’s Emirates NBD Sets IPTs For $500m, 5-Year Bond Issue

Dubai’s Emirates NBD Sets IPTs For $500m, 5-Year Bond Issue

Rated Baa1/A+ by Moody’s and Fitch, ENBD has mandated HSBC, Morgan Stanley, Standard Chartered Bank and itself as bookrunners.

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Dubai’s largest bank, Emirates NBD (ENBD), has opened books after setting initial price guidance for a five-year Regulation S-compliant benchmark bond issue denominated in U.S. dollars, a document from lead managers showed on Wednesday.

ENBD set initial price thoughts for the issue at the 150 basis points area over midswaps.

Rated Baa1/A+ by Moody’s and Fitch, ENBD has mandated HSBC, Morgan Stanley, Standard Chartered Bank and itself as bookrunners for the senior unsecured bond issue.

If a debt issue is Reg S-compliant, investors inside the United States cannot buy the offering. The bond is expected to price later in the day.


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