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.
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: email@example.com))