Emirates NBD, Dubai’s largest bank, has mandated Japan’s Mizuho Bank to arrange a $200m loan, according to Loan Pricing Corporation (LPC), a fixed income news service that is part of Refinitiv.
The loan has tranches with three- and five-year maturities and a $200m greenshoe option, meaning the final size could rise to as much as $400m.
Emirates NBD declined to comment while Mizuho did not immediately respond to a request for comment.
The $200m loan is being syndicated to other banks and offers interest margins of 80 basis points and 110 basis points over the London interbank offered rate for the three- and five-year tranches, respectively, LPC reported.
Emirates NBD, which is 55.6 per cent owned by state fund Investment Corp, is a regular borrower in the bank debt markets.
Last year it raised a $2bn three-year loan involving a group of 18 lenders.