UAE's Emirates Development Bank sets final price guidance for debut dollar bond - Gulf Business
Now Reading
UAE’s Emirates Development Bank sets final price guidance for debut dollar bond

UAE’s Emirates Development Bank sets final price guidance for debut dollar bond

Orders for the five-year senior unsecured bonds totalled almost $3.5bn

dirhams

Emirates Development Bank (EDB), owned by the United Arab Emirates federal government, set final price guidance for its $750m dollar bond issue at 98 basis points over midswaps, a document issued by one of the banks leading the deal showed on Wednesday.

Orders for the five-year senior unsecured bonds, EDB’s debut dollar issue, totalled almost $3.5bn. Emirates NBD Capital and Standard Chartered Bank are coordinating the sale. Emirates Development Bank is rated AA-(minus) by Fitch.

The pricing for the issue was revised from earlier guidance of around 130 basis points over mid-swaps.

© 2021 MOTIVATE MEDIA GROUP. ALL RIGHTS RESERVED.

Scroll To Top