Business | Banking

NBAD to issue $500 million bond

Bank increases existing bond programme in dollars, ringgit and yen

  • Zawya Dow Jones
  • Published: 18:33 January 29, 2013
  • Gulf News

Abu Dhabi:

National Bank of Abu Dhabi is considering issuing a convertible bond of up to $500 million (Dh1.8 billion) as it increases the size of existing bond programmes in dollars, ringgit and yen.

The bank will look at the bond sale at a shareholders’ meeting on March 12, according to an agenda posted on the Abu Dhabi bourse website.

NBAD is also looking to increase the size of an existing euro medium-term note programme from $5 billion to $7.5 billion, it said. It may increase its Malaysian ringgit debt programme from 3 billion ringgit ($974 million) to 5 billion ringgit and raise its samurai bond programme from 40 billion yen ($442 million) to 150 billion yen.

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