Complex Made Simple

RakBank to issue debut bond

UAE-based lender, National Bank of Ras Al Khaimah (RakBank) may sell a benchmark-sized debut bond issue after announcing plans to meet fixed income investors, Reuters has reported, citing a document from lead managers. The bank has selected National Bank of Abu Dhabi (NBAD) and Standard Chartered to arrange roadshows in the Middle East, Asia and Europe starting June 11, the document said. RakBank had said in a stock market filing on Monday it was in the process of setting up a Euro Medium Term Notes (EMTN) programme, which would allow it to issue bonds outside of the US.