Published on 7/5/2012 in the Prospect News Emerging Markets Daily.
New Issue: Dubai's Emirates Islamic Bank sells $500 million 4.147% notes due 2018 at 310 bps spread
By Christine Van Dusen
Atlanta, July 5 - Dubai's Emirates Islamic Bank priced a $500 million issue of 4.147% notes due Jan. 11, 2018 at par to yield mid-swaps plus 310 basis points, a market source said.
The notes priced tighter than talk, which was set at mid-swaps plus 330 bps.
Emirates NBD Capital, Credit Agricole, Dubai Islamic Bank, HSBC and Standard Chartered were the bookrunners for the Regulation S-only deal.
Emirates Islamic Bank is a Dubai-based lender.
| Issuer: | Emirates Islamic Bank
|
| Amount: | $500 million
|
| Maturity: | Jan. 11, 2018
|
| Description: | Notes
|
| Bookrunners: | Emirates NBD Capital, Credit Agricole, Dubai Islamic Bank, HSBC, Standard Chartered
|
| Coupon: | 4.147%
|
| Price: | Par
|
| Yield: | 4.147%
|
| Spread: | Mid-swaps plus 310 bps
|
| Trade date: | July 4
|
| Settlement date: | July 11
|
| Distribution: | Regulation S
|
| Price talk: | Mid-swaps plus 330 bps
|
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