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Emirates Development Bank sells $750mln in five-year bonds

June 9, 2021
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Emirates NBD Capital, Standard Chartered, Goldman Sachs International, and Industrial and Commercial Bank of China are arranging the deal

DUBAI - Emirates Development Bank, wholly owned by the United Arab Emirates federal government, sold $750 million in five-year bonds at 80 basis points (bps) over mid-swaps after receiving over $3.2 billion in orders for its first international bond sale since 2019, a document showed on Tuesday.

The spread was tightened from initial guidance of between 105 and 110 basis points over mid-swaps, the document from one of the banks on the deal showed.

Emirates NBD Capital, Standard Chartered, Goldman Sachs International, and Industrial and Commercial Bank of China 601398.SS arranged the deal.

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