By Sudip Roy
LONDON, May 21 (IFR) - UAE lender Emirates NBD has begun marketing a Tier 1 perpetual non-call six year bond at low 6% on Tuesday, according to a source and lead manager.
Books are open on the unrated Reg S-only issue, which is expected to launch and price on Wednesday. There is a 50 cents rebate for private banks.
The bond is guaranteed by Emirates NBD PJSC, which is rated Baa1 by Moody's and A+ by Fitch.
HSBC is global co-ordinator and is joined as bookrunner by Bank of America Merrill Lynch, Deutsche Bank, Emirates NBD Capital, ING and Morgan Stanley.
(Reporting by Sudip Roy; Editing by Alex Chambers)
((sudip.roy@thomsonreuters.com)(+44 207 542 4617)(Reuters Messaging: sudip.roy.thomsonreuters.com@reuters.net))
Keywords: MIDDLE EAST BONDS
