Wednesday, May 22, 2013
DUBAI (Zawya Dow Jones)--Abu Dhabi Commercial Bank, the U.A.E. capital's third largest lender by market value, plans to issue a benchmark-sized, U.S. dollar bond this week, according to an arranging bank.
The initial price talk on the 10-year subordinated notes is in the area of 230 basis points over midswaps. The bond is to be issued under the bank's $7.5 billion global medium-term note, or GMTN, program.
A benchmark bond is usually of $500 million in size.
Write to Nikhil Lohade at nikhil.lohade@dowjones.com
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(END) Dow Jones Newswires
22-05-13 1013GMT
