New Issue: Dubai’s Emirates NBD prices $500 million 6 3/8% perpetual notes at par

By Christine Van Dusen

Atlanta, Sept. 10 – Dubai’s Emirates NBD priced $500 million perpetual notes at par to yield 6 3/8% on Wednesday following talk in the mid-6% area, a market source said.

Morgan Stanley and Standard Chartered Bank were the joint global coordinators, and Citigroup, Commerzbank, Deutsche Bank, Emirates NBD Capital, Morgan Stanley and Standard Chartered Bank were the joint lead managers for the Regulation S deal.

Emirates NBD is a provider of corporate, consumer, treasury and investment banking and asset management services.

Issuer:	Emirates NBD
Amount:	$500 million
Maturity:	Perpetual
Description:	Notes
Bookrunners:	Morgan Stanley, Standard Chartered Bank (joint global coordinators); Citigroup, Commerzbank, Deutsche Bank, Emirates NBD Capital, Morgan Stanley, Standard Chartered Bank (joint lead managers)
Coupon:	6 3/8%
Price:	Par
Yield:	6 3/8%
Call options:	Non-callable for six years
Trade date:	Sept. 10
Settlement date:	Sept. 17
Distribution:	Regulation S
Price talk:	Mid-6% area

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