Emirates NBD started marketing permanent bonds in dollars at a yield of 6.5%, which is not refundable six years ago.
According to Reuters, it is expected that the sale of these bonds will be closed later today.
Note that permanent bonds are a fixed income instrument with no maturity date and therefore are usually non-refundable, but in return they are continuously paid back to their holder.
A document had previously shown that Emirates NBD appointed banks to arrange a call with investors ahead of the possible issuance of bonds denominated in US dollars.
The bank appointed Emirates NBD Capital, Standard Chartered and HSBC to coordinate the potential deal, along with the participation of Bank of America, City and First Abu Dhabi Bank.
The base capital consolidation bonds are scheduled to be permanent, i.e. no due date and cannot be called for six years, according to the document.
It is noteworthy that Emirates NBD is the owner of the most valuable banking brand in the UAE, with a brand value of $ 4.13 billion, according to the annual classification of the magazine. The Banker.
The bank ranked among the top 100 banking brands in the world, and ranked second in the Middle East and Africa region.
Emirates NBD climbed its ranking by 8 places compared to last year, to be ranked 68th in the world in the Brand Finance Consulting rankings for the 500 largest banks in the world, Which was published by The Banker in its February issue.
