Dubai Lender Emirates NBD Launches $1 Bln Bond At 5.75%

By Administrator On May 22, 2013

Emirates NBD launched a $1 billion core capital-boosting bond on Wednesday, amid healthy demand, allowing the Dubai lender to tighten earlier price guidance.

The Tier 1 bond launched at a final yield of 5.75 percent, tighter than the 6 percent indicated earlier in the day.

Pricing is due later on Wednesday.

Bank of America Merrill Lynch, Deutsche Bank , HSBC Holdings, ING, Morgan Stanley as well as Emirates NBD’s investment banking unit are mandated arrangers on the bond.

Reuters