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Dubai lender ENBD raises debut New Zealand dollar bond
October 1, 2014 / 2:02 PM / 3 years ago

Dubai lender ENBD raises debut New Zealand dollar bond

DUBAI, Oct 1 (Reuters) - Emirates NBD (ENBD), Dubai’s largest lender, has priced a 100 million New Zealand dollar ($77.6 million) five-year bond, in what the lender said was a first in the currency from a Middle Eastern borrower.

The 6 percent coupon translates to spread of 165 basis points over New Zealand midswaps, the rate at which the deal was initially marketed on Monday, the bank said in a statement.

“This represents the cheapest five-year funding raised by Emirates NBD in the last six years,” said Shayne Nelson, chief executive of ENBD.

The issue, arranged by ANZ and Deutsche Bank , came at a reoffer price of 99.664, a separate document showed.

Last month, the lender priced a $500 million, Tier 1 capital-boosting bond at 6.375 percent. (Reporting by Archana Narayanan; Editing by David French)

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