Published on 6/10/2015 in the Prospect News Emerging Markets Daily.
New Issue: National Bank of Abu Dhabi prices $750 million 5¼% perpetual notes at 335 bps spread
By Christine Van Dusen
Atlanta, June 10 – National Bank of Abu Dhabi PJSC priced a $750 million issue of 5¼% perpetual notes (expected ratings: Baa3/BBB-) at par to yield 5¼%, or mid-swaps plus 335 basis points, on Wednesday, a market source said.
Citigroup, HSBC, Morgan Stanley, National Bank of Abu Dhabi and Societe Generale CIB were the bookrunners for the Regulation S deal.
| Issuer: | National Bank of Abu Dhabi PJSC
|
| Amount: | $750 million
|
| Maturity: | Perpetual
|
| Description: | Notes
|
| Bookrunners: | Citigroup, HSBC, Morgan Stanley, National Bank of Abu Dhabi, Societe Generale CIB
|
| Coupon: | 5¼%
|
| Price: | Par
|
| Yield: | 5¼%
|
| Spread: | Mid-swaps plus 335 bps
|
| Call features: | Non-callable for five years
|
| Trade date: | June 10
|
| Expected ratings: | Moody’s: Baa3
|
| Standard & Poor’s: BBB-
|
| Distribution: | Regulation S
|
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