Home UAE Dubai Emirates NBD Sets Guidance On Tier 1 Bond; Orders Top $1bn The offer is rated Baa1 by Moody’s and A-plus by Fitch, and is expected to price on Wednesday. by Reuters September 10, 2014 Emirates NBD (ENBD), Dubai’s largest lender, set price guidance on its Tier 1 capital-boosting bond in the area of 6.5 per cent on Wednesday, and has attracted orders in excess of $1 billion, according to lead managers. The bond was initially marked on Tuesday in the mid-six per cent area via Citigroup, Commerzbank, Deutsche Bank, Morgan Stanley, Standard Chartered and Emirates NBD’s own investment banking arm. The offer is rated Baa1 by Moody’s and A-plus by Fitch, and is expected to price on Wednesday. The perpetual can be bought back by the lender after the sixth year, and is expected to be $500 million in size. Global books are expected to close at 1000 GMT on Wednesday. 0 Comments