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Emirates NBD Bank (ENBD), the UAE’s second largest bank by assets, has mandated its debut dirham-denominated Regulation S three-year fixed rate digitally native notes (DNN).
The issuance will come under ENBD’s $20 billion Euro Medium Term Note Programme, subject to market conditions, with the DNN issue clearing through Euroclear D-FMI.
The UAE lender, rated A1 (stable) by Moody’s and A+ (stable) by Fitch, has mandated Emirates NBD Capital, First Abu Dhabi Bank, Mashreq and Standard Chartered Bank as joint lead managers and joint bookrunners.
Emirates NBD Capital and Standard Chartered Bank are acting as joint DNN structurers.
FCA/ICMA stabilisation applies.
This is ENBD’s second issuance in January, with the UAE lender raising $1 billion last week through blue and green sustainability-linked bonds, with an orderbook in excess of $2 billion.
(Writing by Bindu Rai, editing by Daniel Luiz)
