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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.%
1.1164
0.0001
0.0049%
1.2701
-0.0036
0.2830%
14.453
0.035
0.246%
62.960
0.279
0.445%
72.03
0.15
0.21%
1274.790
-2.975
0.233%
 
 
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