DUBAI - Dubai's Mashreqbank has priced a $300 million Additional Tier 1 bond at a yield of 8.5%, a document issued by one of the banks leading the deal showed.

The Dubai lender began marketing the perpetual, non-call, five-year issue in the low- to mid-8% range on Thursday.

The bond attracted orders of more than $500 million, the document showed.

(Reporting by Hadeel Al Sayegh; editing by Jason Neely)