Now Reading
Emirates NBD Sets Initial Price Thoughts On Tier 1 Perpetual Bond

Emirates NBD Sets Initial Price Thoughts On Tier 1 Perpetual Bond

The U.S. dollar transaction, will be of benchmark size – traditionally understood to mean worth upwards of $500 million.

Emirates NBD (ENBD), Dubai’s largest lender, has set initial price thoughts in the mid-six per cent area for its Tier 1 capital-boosting bond issue, a document from lead managers showed on Tuesday.

The U.S. dollar transaction, which has a perpetual tenor but can be bought back by the lender after the sixth year, will be of benchmark size – traditionally understood to mean worth upwards of $500 million.

Emirates NBD, rated Baa1 by Moody’s and A-plus by Fitch, had chosen Citigroup, Commerzbank, Deutsche Bank , Morgan Stanley, Standard Chartered and its own investment banking arm to arrange investor meetings.

© 2020 MOTIVATE MEDIA GROUP. ALL RIGHTS RESERVED.

Scroll To Top