National Bank of Ras Al Khaimah plans to sell 5-year social bonds, document shows

The National Bank of Ras Al Khaimah RAKBANK.AD has hired banks ahead of a planned 5-year inaugural social bond sale, an arranging bank document showed on Monday.

The lender has selected Abu Dhabi Commercial Bank, Bank ABC, Citi, Emirates NBD Capital, First Abu Dhabi Bank, HSBC, ICBC, ING, J.P. Morgan and Standard Chartered Bank as joint lead managers and bookrunners, the document said.

The investor meetings are scheduled to start from July 15 and will be followed by a benchmark-sized, U.S. dollar-denominated, senior unsecured inaugural social bond offering under Rakbank’s EMTN Programme, the document said.

(Reporting by Mohammad Edrees; Editing by Tom Hogue)