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|18 February, 2019

UAE's Emirates Development Bank hires arrangers for dollar bond

Emirates NBD Capital has been appointed as the financial adviser and, together with Standard Chartered, as joint global coordinators.

Image used for illustrative purpose. A customer makes a transaction at Emirates Bank in Dubai March 7, 2007.

Image used for illustrative purpose. A customer makes a transaction at Emirates Bank in Dubai March 7, 2007.

REUTERS/Mohammed Salem

DUBAI  - Emirates Development Bank (EDB), wholly owned by the federal government of the United Arab Emirates, has hired banks to arrange a series of fixed income investor meetings ahead of a potential sale of benchmark U.S. dollar-denominated five-year bonds, a document issued by one of the banks showed.

Emirates NBD Capital has been appointed as the financial adviser and, together with Standard Chartered, as joint global coordinators.

Emirates NBD Capital, Industrial and Commercial Bank of China Ltd, and Standard Chartered Bank have been hired as joint lead managers.

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Benchmark deals are generally of at least $500 million.

EDB is rated AA-(minus) by Fitch. The planned debt issue would be the bank's first in the international debt markets and part of a $3 billion bond programme.

Representatives of the banks will meet investors in Asia, the United Arab Emirates and London starting from Feb. 20, according to the document.

(Reporting by Davide Barbuscia; Editing by Subhranshu Sahu) ((Davide.Barbuscia@thomsonreuters.com; +971522604297; Reuters Messaging: davide.barbuscia.reuters.com@reuters.net))

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