Emirates NBD $500m perpetual bond launched at 6.375%

Dubai: Emirates NBD (ENBD) launched a $500 million (Dh1.8 billion), Tier 1 capital-boosting bond at 6.375 per cent, a document from lead managers said.

Pricing guidance for the perpetual bond had been given in the area of 6.5 per cent earlier on Wednesday.

The order book closed in excess of $1.3 billion. Allocations and pricing were to occur later on Wednesday afternoon.

Citigroup, Commerzbank, Deutsche Bank, Morgan Stanley, Standard Chartered and Emirates NBD’s own investment banking arm were arranging the sale.