Orders Over A$175m For 7-Year Emirates NBD Kangaroo Bond
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Orders Over A$175m For 7-Year Emirates NBD Kangaroo Bond

Orders Over A$175m For 7-Year Emirates NBD Kangaroo Bond

The Dubai-based bank is marketing the Australian dollar- denominated seven-year notes to yield about 225 basis points above the swap rate, a document from leads showed.

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Emirates NBD has so far attracted orders of over A$175 million for its seven-year kangaroo bond issue, the longest maturity to date for a Middle East issuer in the market.

The Dubai-based bank is marketing the Australian dollar- denominated seven-year notes to yield about 225 basis points above the swap rate, a document from leads showed.

ENBD has mandated Deutsche Bank, Emirates NBD Capital, NAB and Nomura to arrange the offer. Books are expected to close at 12.45 p.m. Sydney time on Wednesday, the document showed.

Kangaroo bond issuance is surging this year following record volumes in 2014. Emirates NBD’s offer follows a raft of deals since 2013 from other Gulf-based lenders including First Gulf Bank, Abu Dhabi Commercial Bank and National Bank of Abu Dhabi.


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