Home Industry Finance UAE’s RAKBANK Will Raise $300m Through 2019 Bond Tap Order books for the bond tap have crossed $500 million, as per the document. by Reuters February 23, 2015 United Arab Emirates-based lender National Bank of Ras Al Khaimah (RAKBANK) will raise a further $300 million through a re-opening of its due June 2019 bond, a document from lead arrangers showed. The final price for the issue has been set at 100.875, the document showed, following initial guidance at 100.875, plus/minus 0.125, earlier on Monday. The tap takes the overall size of the bond to $800 million. The sixth-largest lender by market value on the Abu Dhabi bourse will complete a process known as a tap, from its $500 million 3.25 percent 2019 bond. Order books for the bond tap have crossed $500 million, as per the document. RAKBANK is rated Baa1 by Moody’s and BBB+ by Fitch and has picked National Bank of Abu Dhabi and Standard Chartered to arrange the transaction. The tap-issued bonds are fungible with the bonds issued earlier in the series on March 2, it showed. 0 Comments