UAE’s RAKbank sets initial talk at mid-swaps plus 170 bps area for five-year notes

By Christine Van Dusen

Atlanta, June 16 – United Arab Emirates-based National Bank of Ras Al Khaimah (RAKbank) set initial talk in the mid-swaps plus 170 basis points area for its upcoming issue of benchmark-sized notes due in five years, a market source said.

National Bank of Abu Dhabi and Standard Chartered Bank are the bookrunners for the deal, which is being marketed during a roadshow.

The issuer is a commercial bank based in Dubai.

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