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National Bank of Abu Dhabi set for $125m bond issue

National Bank of Abu Dhabi (NBAD) has mandated HSBC and Mitsubishi UFJ Morgan Stanley for its debut ¥10bn ($124.7m) bond issue, the first such issue from a Middle Eastern bank, Reuters has reported. "We are extending our liability profile and diversification is also key for us" Mahmoud al Aradi, general manager, financial markets group at NBAD told the news service. "This is the size we are looking at (¥10bn)", he said.