By Rebecca Melvin
New York, Feb. 28 – Emirates Development Bank PJSC priced $750 million of 3.516% five-year notes (//AA-) to yield mid-swaps plus 98 basis points, according to a market source on Thursday.
Pricing was tightened from mid-swaps plus 130 bps talked initially.
Emirates NBD Capital, Industrial and Commercial Bank of China, Standard Chartered Bank and Union National Bank were bookrunners for the Regulation S debut deal, which priced under the lender’s €3 billion medium-term note program.
The company provides financial services for industrial projects in the United Arab Emirates.
| Issuer: | Emirates Development Bank PSJC
|
| Issue: | Senior notes
|
| Amount: | $750 million
|
| Maturity: | March 6, 2024
|
| Bookrunners: | Emirates NBD Capital, Industrial and Commercial Bank of China, Standard Chartered Bank and Union National Bank
|
| Coupon: | 3.516%
|
| Price: | Par
|
| Yield: | 3.516%
|
| Spread: | Mid-swaps plus 98 bps
|
| Pricing date: | Feb. 27
|
| Settlement date: | March 6
|
| Distribution: | Regulation S
|
| Price talk: | Mid-swaps plus 130 bps
|
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