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Dubai-based lender Mashreqbank, rated A3 (Stable) by Moody’s and A (Stable) by S&P and Fitch, is marketing a dollar-denominated benchmark-sized perpetual non-call 5.5-year AT1.
Abu Dhabi Commercial Bank, BBVA, Barclays, Bank of America, Credit Agricole, Emirates NBD Capital, First Abu Dhabi Bank, Mashreq and Standard Chartered are the joint lead managers mandated on the Regulation S issuance.
Fixed investor calls commence Monday, June 29.
The AT1 will list on the Global Exchange Market of Euronext Dublin.
This is the lender’s first debt issuance since the onset of the US-Iran conflict, with Mashreqbank raising $500 million in February through a Reg S perpetual non call 5.5-year AT1 priced at 6.25%.
(Writing by Bindu Rai, editing by Seban Scaria)
