November 7, 2017 / 12:48 PM / 5 months ago

Dubai's Emirates NBD launches $750 mln five-year bond

DUBAI, Nov 7 (Reuters) - Emirates NBD, Dubai’s largest bank, launched a $750 million five-year bond at 125 basis points (bps) over mid-swaps, a document from one of the banks leading the deal showed on Tuesday.

Initial price guidance for the senior unsecured Regulation S bond was in the 140 bps over mid-swaps area earlier on Tuesday and tightened by 10 bps as the deal was marketed, attracting more than $1.4 billion in orders.

ENBD Capital, HSBC, Nomura, Societe Generale and Standard Chartered Bank are joint bookrunners on the bond issue, which is expected to be rated A+ by Fitch and A3 by Moody’s.

Reporting by Davide Barbuscia; Editing by David Goodman

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