March 7, 2019 / 8:26 AM / 17 days ago

Emirates NBD hires banks for dollar bond issue

DUBAI, March 7 (Reuters) - Emirates NBD, Dubai’s largest bank, has hired banks to arrange fixed income investor meetings before a potential issue of U.S. dollar-denominated bonds, a document issued by one of the banks showed.

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

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 the fact that they have no maturity.

Reporting by Davide Barbuscia Editing by Edmund Blair

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