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Emirates NBD head office. Image courtesy: Emirates NBD
Emirates NBD has mandated banks for a US dollar Reg S perpetual non-call six-year AT1 capital issuance, subject to market conditions.
The UAE’s second largest lender, which is rated A2 positive by Moody’s and A+ stable by Fitch, has mandated ADCB, BofA Securities, Citi, Emirates NBD Capital, FAB and Standard Chartered as joint lead managers and bookrunners for fixed income investor meetings and calls starting Thursday.
In-person meetings will take place in Dubai and London on Friday and Monday.
A benchmark fixed rate resettable USD-denominated Reg S perpetual non-call six-year AT1 capital issuance will follow, subject to market conditions.
Bahrain’s Bank ABC dropped a planned $400 million AT1 issuance last month citing market conditions.
(Writing by Imogen Lillywhite; editing by Daniel Luiz)
