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Emirates NBD starts marketing dollar bonds

2019-03-14 11:22:46 GMT (Economies.com)
Emirates NBD starts marketing dollar bonds
 

Emirates NBD started marketing U.S. dollar-denominated bonds with an initial price guidance in the range of 6.375 percent and 6.5 percent, a document from one of the banks leading the deal showed on Wednesday.

 

The bank has mandated BNP Paribas, Emirates NBD Capital, First Abu Dhabi Bank, HSBC , Nomura and Standard Chartered Bank to arrange the issue.

 

The planned deal would be of benchmark size, which generally means at least $500 million, and will be an Additional Tier 1 perpetual bond not callable for six years.

 

Perpetual bonds are similar to an equity instrument in that they have no maturity. 

 

The bank earlier posted a 20% rise in net profit for the fiscal year 2018 to AED 10 billion, compared with AED 8.3 billion a year ago.

 

 It also posted a 10% increase in fourth quarter net profit to AED2.39 billion in the three months ended December 31, it said on Wednesday.

 

 
 
 
  Symbol Last Change Chg.%
1.1324
-0.0002
0.0159%
1.3111
-0.0185
1.3940%
15.503
0.208
1.360%
59.778
1.395
2.390%
67.80
-0.05
0.07%
1311.370
9.060
0.696%
 
 
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