Tuesday, May 14, 2013
DUBAI (Zawya Dow Jones)--Commercial Bank of Dubai (CBD.DFM) has launched a $500 million, five-year bond, after receiving strong demand, according to a lead arranging bank.
The final spread for the bond is 250 basis points over midswaps, tighter than the initial price thoughts of 275 basis points area over midswaps.
Books were around 3.5 times oversubscribed, the bank had said earlier Tuesday.
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 bond being issued under CBD's euro medium term note, or EMTN, program.
Write to Nikhil Lohade at nikhil.lohade@dowjones.com
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(END) Dow Jones Newswires
14-05-13 1143GMT
