Emirates NBD issues a 5-year $1bn fixed rate bond
- United Arab Emirates: Sunday, March 25 - 2012 at 16:18
- PRESS RELEASE
Emirates NBD, on 21st March 2012, priced a 5-year $1bn fixed rate bond. The $1bn issue was three times over-subscribed with orders received from 205 investors.
This is the third public deal from Emirates NBD in 2012, following on from the US$ 500m sukuk issued in January and the CNY 1 billion issued earlier this month.
Rick Pudner, CEO, Emirates NBD commented, "We are delighted to successfully access the debt capital markets again this year with a $1bn 5-year benchmark deal. The issue was three times over-subscribed and we were pleased that over 200 investors placed orders. This deal follows two other successful public issues for the Group earlier this year."
Emirates NBD is a leading banking Group in the region. As at 31 December 2011, total assets were Dhs284.6bn. The Group has a leading retail banking franchise in the UAE, with over 168 branches and over 780 ATMs and CDMs. It is a major player in the UAE corporate banking arena and has strong Islamic banking, Global Markets & Treasury, Investment Banking, Private Banking, Asset Management and Brokerage operations.
The Group has operations in the UAE, the Kingdom of Saudi Arabia, Qatar, Singapore, the United Kingdom and Jersey (Channel Islands), and representative offices in India and Iran.
The Group is an active participant and supporter of the UAE's main development initiatives and of the various educational, environmental, cultural, charity and community welfare establishments.
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