April 2, 2019 / 5:18 AM / 4 months ago

UAE's RAKBANK starts marketing 5-yr dollar bond at around 210 basis points over mid-swaps - document

DUBAI, April 2 (Reuters) - The United Arab Emirates’ RAKBANK started marketing a five-year dollar bond issue on Tuesday with an initial price guidance of about 210 basis points over mid-swaps, a document issued by one of the banks leading the deal showed.

The bank, rated Baa1 by Moody’s and BBB+ by Fitch, is expected to price the notes later on Tuesday. Bank ABC, Citi, Emirates NBD Capital, First Abu Dhabi Bank, ICBC and Standard Chartered Bank have been hired to arrange the deal. (Reporting by Davide Barbuscia; Editing by Stephen Coates)

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