By Rebecca Melvin
New York, Jan. 6 – Dubai’s Emirates NBD Bank PJSC priced $750 million five-year senior notes (A3//A+) at par to yield 1.638%, or mid-swaps plus 115 basis points, according to a market source on Wednesday.
Pricing came at the tight end of revised guidance, which was for a yield of mid-swaps plus 115 bps to 120 bps.
The order book was in excess of $2.2 billion at the time the deal was launched.
Emirates NBD Capital, ICBC, ING, Mizuho Securities and Standard Chartered Bank are bookrunners for the Regulation S deal.
The lender is based in Dubai.
| Issuer: | Emirates NBD Bank PJSC
|
| Issue: | Senior notes
|
| Amount: | $750 million
|
| Maturity: | Jan. 13, 2026
|
| Bookrunners: | Emirates NBD Capital, ICBC, ING, Mizuho Securities and Standard Chartered Bank
|
| Coupon: | 1.638%
|
| Price: | Par
|
| Yield: | 1.638%
|
| Spread: | Mid-swaps plus 115 bps
|
| Pricing date: | Jan. 6
|
| Settlement date: | Jan. 13
|
| Ratings: | Moody’s: A3
|
| Fitch: A+
|
| Distribution: | Regulation S
|
| Guidance: | Mid-swaps plus 115 bps-120 bps
|
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