Home UAE Dubai 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. by Reuters April 29, 2015 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. 0 Comments