|18 February, 2020

Dubai's Emirates NBD markets 10-year kangaroo bonds

The bank hired ANZ, Emirates NBD Capital, Mizuho and Nomura to arrange the deal

Modern skyscrapers of National Bank of Dubai NBD and Dubai Chamber of Commerce. Image used for illustrative purpose.

Modern skyscrapers of National Bank of Dubai NBD and Dubai Chamber of Commerce. Image used for illustrative purpose.

Getty Images/ Pankaj & Insy Shah

DUBAI - Emirates NBD, Dubai's largest bank, is selling "kangaroo" bonds with a 10-year maturity, a document showed on Tuesday.

Kangaroo bonds are issued by non-Australian issuers in the Australian market and are denominated in Australian dollars.

The bank has set the indicative yield for the bonds at 3.115% and has received over A$860 million ($574.82 million) in orders for the potential debt sale, which is expected to close on Wednesday, the document said.

The bank hired ANZ, Emirates NBD Capital, Mizuho and Nomura to arrange the deal, which is part of Emirates NBD's A$4 billion debt issuance programme.

($1 = 1.4961 Australian dollars)

(Reporting by Yousef Saba, editing by Davide Barbuscia) ((Yousef.Saba@thomsonreuters.com; +971562166204))

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