DUBAI: Emirates Development Bank (EDB), owned by the United Arab Emirates federal government, set final price guidance for its $750 million dollar bond issue at 98 basis points over midswaps, a document issued by one of the banks leading the deal showed on Wednesday.

Orders for the five-year senior unsecured bonds, EDB's debut dollar issue, totalled almost $3.5 billion. Emirates NBD Capital and Standard Chartered Bank are coordinating the sale. Emirates Development Bank is rated AA-(minus) by Fitch.

The pricing for the issue was revised from earlier guidance of around 130 basis points over mid-swaps.

 

(Reporting by Davide Barbuscia; Additional reporting by Tom Arnold in London; Editing by Subhranshu Sahu and Kirsten Donovan) ((sylvia.westall@thomsonreuters.com; Via Dubai Newsroom +971 4453 6488; Reuters Messaging: sylvia.westall.thomsonreuters.com@reuters.net))