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Mashreqbank mandates banks for dollar bond sale

2019-02-10 07:05:28 GMT (Economies.com)
Mashreqbank mandates banks for dollar bond sale
 

Dubai-listed Mashreqbank has mandated banks to arrange fixed income investor meetings ahead of a potential issue of five-year U.S. dollar-denominated bonds.

 

Mashreqbank will meet investors in the UAE, Europe and Asia, starting today, Feb. 10, according to Reuters.

 

BNP Paribas, BofA Merrill Lynch, Commerzbank, Mashreqbank, Nomura and Societe Generale will arrange the meetings ahead of the potential issue, expected to be of benchmark size, which generally means at least $500 million

 

The bank earlier reported a rise by 4.6% in net profit for the third quarter of 2018 to AED 587 million net profit, compared with AED 561 million net profit.

 

Net profit for the first nine months of 2018 reached AED 1.748 billion, compared with AED 1.664 billion in the corresponding period a year ago.

 

The DFM-listed lender earlier reported 5.2% growth in H1-18 net profit to AED 1.2 billion, compared with AED 1.13 billion.

 
 
  Symbol Last Change Chg.%
1.1336
0.0037
0.3301%
1.3034
0.0127
0.9805%
15.995
0.216
1.366%
57.100
1.327
2.378%
67.08
0.63
0.95%
1337.560
16.225
1.228%
 
 
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