Mashreq takes orders for $500mln Tier 2 bonds - document

Initial price guidance was around 8.25% for the debt offering that will not grow, a separate bank document showed earlier

Yousef Saba, Reuters News

November 17, 2022

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DUBAI - United Arab Emirates bank Mashreq has drawn over $1 billion in demand for its sale of $500 million worth of 10-1/4-year Tier 2 bonds non-callable for 5-1/4 years, a bank document showed.

Initial price guidance was around 8.25% for the debt offering that will not grow, a separate bank document showed earlier.

Barclays is sole structuring adviser as well as joint bookrunner alongside Abu Dhabi Commercial Bank, Emirates NBD Capital, First Abu Dhabi Bank, Mashreq and Mizuho.

The deal is expected to price later on Thursday.

(Reporting by Yousef Saba; Editing by Mark Potter)

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