Emirates NBD sells $ 500 million of 5-year bonds

A bank document showed on Tuesday that Emirates NBD, Dubai’s largest bank, sold five-year bonds worth $ 500 million, in its first public debt sale this year, which has received requests for over one billion dollars.
The bank reduced the final price by 20 basis points, bringing it to 155 basis points above the sale of US Treasuries, which was organized by Abu Dhabi Commercial Bank, Barclays, Emirates NBD Capital, HSBC, SMBC and Standard Bank .
The sale came when Saudi Arabia and Abu Dhabi’s sovereign wealth fund Mubadala issued bonds on Tuesday.
Emirates NBD, of which the Dubai Government Investment Corporation owns approximately 56%, sold bonds on the public debt markets last time in May last year, when it raised $ 750 million with additional non-redeemable Class 1 bonds for a period of six years. After raising the same amount through five-year bonds in January 2021.
An investor presentation, seen by Reuters on Tuesday, showed the bank’s assets at the end of June amounted to $ 194 billion, making it the fourth largest bank in the Gulf after Qatar National Bank, First Abu Dhabi Bank and Al Ahli Bank. ‘Saudi Arabia.
(Reuters)