DUBAI- Emirates NBD
, Dubai's largest bank, launched a $750 million five-year bond at 125 basis points (bps) over mid-swaps, a document from one of the banks leading the deal showed on Tuesday.
Initial price guidance for the senior unsecured Regulation S bond was in the 140 bps over mid-swaps area earlier on Tuesday and tightened by 10 bps as the deal was marketed, attracting more than $1.4 billion in orders.
ENBD Capital, HSBC, Nomura, Societe Generale and Standard Chartered Bank are joint bookrunners on the bond issue, which is expected to be rated A+ by Fitch and A3 by Moody's.
(Reporting by Davide Barbuscia; Editing by David Goodman) ((Davide.Barbuscia@thomsonreuters.com; +971522604297; Reuters