A recent document showed that Emirates NBD, the largest of Dubai banks, began marketing permanent bonds worth one billion dollars at an initial indicative price in the range of 6.375 and 6.5%.
Emirates NBD authorized BNP Paribas, Emirates NBD Capital, First Abu Dhabi Bank, HSBC, Nomura, and Standard Chartered Bank to arrange the issue.
The planned issue will be $ 1 billion, and will consist of additional permanent bonds to support a non-callable 6-year core capital, according to Reuters.
and permanent bonds are similar to equity instruments in that they do not have a maturity period.
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