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NBAD note sale to help Gulf banks, says Paribas
- United Arab Emirates: Tuesday, September 15 - 2009 at 09:13
BNP Paribas bank has said National Bank of Abu Dhabi's $850m note issue this month, the first by a Gulf Arab financial institution since 2007, will help other 'stronger' lenders to sell bonds, Bloomberg has reported. The sale had received more than $4bn in orders, 70% from outside the MENA region, Mark Waters, head of debt capital markets at BNP Paribas has said. NBAD's note created a 'benchmark and should allow the better quality financial institutions from the region to also access the market', Waters said.
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StaffTuesday, September 15 - 2009 at 09:13 UAE local time (GMT+4)
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