Dubai – Mubasher: Emirates NBD is forecast to issue up to $750 million Additional Tier 1 bonds, non-callable for six years, according to Reuters citing a document issued by one of the banks arranging the deal.
The bank has received more than $1.6 billion in orders for the Additional Tier 1 bonds.
Final price guidance was tightened to between 4.25% and 4.375% from the initial guidance of around 4.5%; hence, the bonds will be priced in that range.
It is noteworthy to mention that the bank has hired banks to arrange for the issuance of US dollar-denominated Additional Tier 1 bonds, including Emirates NBD Capital and First Abu Dhabi Bank (FAB).
