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Emirates NBD markets kangaroo bonds
The lender began marketing the 10-year kangaroo bonds at around 200 basis points over ASW, with an indicative yield of 6.3 per cent and an indicative coupon of 6.25 per cent
Emirates NBD, Dubai’s biggest lender, has begun taking orders for a benchmark issue of bonds denominated in Australian dollars, a document on the sale showed on Monday.
The lender began marketing the 10-year kangaroo bonds at around 200 basis points over ASW, with an indicative yield of 6.3 per cent and an indicative coupon of 6.25 per cent.
ANZ, Emirates NBD Capital, JPMorgan and Nomura are lead managers for the debt sale “expected to launch in the near future, subject to market conditions,” the document seen by Reuters said.
The bonds will be issued under Emirates NBD’s 4 billion Australian dollars ($2.77 billion) Kangaroo Debt Issuance Programme. They are expected to be rated A2 by Moody’s and A+ by Fitch. — Reuters
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