New Issue: Emirates NBD Bank prices $1 billion 6 1/8% perpetual Tier 1 bonds

By Rebecca Melvin

New York, March 13 – Emirates NBD Bank PJSC priced $1 billion perpetual additional Tier 1 capital securities on Wednesday at par to yield 6 1/8%, according to a syndicate source.

The notes are non-callable for six years.

HSBC, Standard Chartered Bank, BNP Paribas, Emirates NBD Capital, First Abu Dhabi Bank and Nomura are joint lead managers and bookrunners of the Regulation S notes.

The lender is 55.8% owned by the government of Dubai and is one of the largest banking groups by assets in the Gulf Cooperation Council.

Issuer:	Emirates NBD Bank PJSC
Issue:	Perpetual additional Tier 1 capital securities
Amount:	$1 billion
Maturity:	Perpetual
Bookrunners:	HSBC, Standard Chartered Bank, BNP Paribas, Emirates NBD Capital, First Abu Dhabi Bank and Nomura
Coupon:	6 1/8%
Price:	Par
Yield:	6 1/8%
Call:	Non-callable until March 20, 2025
Trade date:	March 13
Settlement date:	March 20
Distribution:	Regulation S

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.