Monday, May 13, 2013
DUBAI (Zawya Dow Jones)--Commercial Bank of Dubai (CBD.DFM) plans to launch a benchmark-sized, five-year bond on Tuesday, after gauging investor demand, according to a lead arranging bank.
The initial price thoughts for the bond are in the 275 basis points area over midswaps. Books are now open for subscription, the bank said.
CBD last week said it hired Citigroup, HSBC and National Bank of Abu Dhabi to conduct fixed income meetings in Asia, Middle East and Europe starting on May 9. The three banks are joint lead managers on the planned bond, which will be issued under CBD's euro medium term note, or EMTN, program.
A benchmark bond is usually of about $500 million in size.
Write to Nikhil Lohade at nikhil.lohade@dowjones.com
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(END) Dow Jones Newswires
13-05-13 1255GMT
