BUSINESS

Emirates NBD Sells CNY750M Dim Sum Bond At Yield 4.875% - Source

Tuesday, Mar 06, 2012(This story was originally published Monday.)LONDON (Dow Jones)--Emirates NBD PJSC (EMIRATES.DFM), one of the biggest lenders in the Middle East, sold CNY750 million ($119 million) of offshore yuan-denominated bonds, said one of the banks on the deal Monday.With this bond offering, it is the first Middle Eastern issuer to tap the so-called dim sum bond market, according to a t

Zawya Dow Jones News

March 6, 2012

Tuesday, Mar 06, 2012

(This story was originally published Monday.)

LONDON (Dow Jones)--Emirates NBD PJSC (EMIRATES.DFM), one of the biggest lenders in the Middle East, sold CNY750 million ($119 million) of offshore yuan-denominated bonds, said one of the banks on the deal Monday.

With this bond offering, it is the first Middle Eastern issuer to tap the so-called dim sum bond market, according to a term sheet seen by Dow Jones Newswires Monday.

HSBC and Standard Chartered Bank are joint bookrunners for the issue.

Below are the terms of the bond offering:


 
Amount:           CNY750 million 
Maturity:         Mar 12, 2015 
Coupon:           4.875% 
Issue Price:      100 
Payment Date:     Mar 12, 2012 
Yield:            4.875% 
Debt Ratings:     A3  (Moody's) 
                  A+  (Standard & Poor's)

-By Ben Edwards, Dow Jones Newswires; +44 (0) 207 842 9287; ben.edwards@dowjones.com (Fiona Law and Carol Chan contributed to this report)

(END) Dow Jones Newswires

06-03-12 0622GMT