By Rebecca Melvin
New York, Nov. 8 – Dubai’s Emirates NBD Bank PJSC priced $750 million 3¼% five-year notes (expected ratings: A3//A+) at 99.726 to yield 3.31%, or mid-swaps plus 125 basis points, according to a market source on Wednesday.
Pricing was tightened from initial talk in the area of mid-swaps plus 140 bps.
The Regulation S senior notes were marketed by ENBD Capital, HSBC, Nomura, Societe Generale CIB and Standard Chartered Bank as joint bookrunners.
Emirates NBD Bank is a provider of corporate, consumer, treasury and investment banking and asset management services.
| Issuer: | Emirates NBD Bank PJSC
|
| Issue: | Senior unsecured notes
|
| Amount: | $750 million
|
| Maturity: | Nov. 14, 2022
|
| Bookrunners: | ENBD Capital, HSBC, Nomura, Societe Generale CIB and Standard Chartered Bank
|
| Co-manager: | Union National Bank
|
| Coupon: | 3¼%
|
| Price: | 99.726
|
| Yield: | 3.31%
|
| Spread: | Mid-swaps plus 125 bps
|
| Trade date: | Nov. 8
|
| Settlement date: | Nov. 14
|
| Expected ratings: | Moody's: A3
|
| Fitch: A+
|
| Distribution: | Regulation S
|
| Price talk: | Revised down to mid-swaps plus 125 bps from mid-swaps plus 140 bps area initially
|
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