DUBAI, Feb 13 (Reuters) - Emirates NBD ,
Dubai's biggest lender, has begun taking orders for a benchmark
issue of bonds denominated in Australian dollars, a document on
the sale showed on Monday.
The lender began marketing the 10-year kangaroo bonds at
around 200 basis points over ASW, with an indicative yield of
6.3% and an indicative coupon of 6.25%.
ANZ, Emirates NBD Capital, JPMorgan and Nomura are lead
managers for the debt sale "expected to launch in the near
future, subject to market conditions," the document seen by
Reuters said.
The bonds will be issued under Emirates NBD's 4 billion
Australian dollars ($2.77 billion) Kangaroo Debt Issuance
Programme. They are expected to be rated A2 by Moody's and A+ by
Fitch.
($1 = 1.4434 Australian dollars)
(Reporting by Yousef Saba; Editing by Susan Fenton)
Disclaimer: The views expressed in this article are those of the author and may not reflect those of Kitco Metals Inc. The author has made every effort to ensure accuracy of information provided; however, neither Kitco Metals Inc. nor the author can guarantee such accuracy. This article is strictly for informational purposes only. It is not a solicitation to make any exchange in commodities, securities or other financial instruments. Kitco Metals Inc. and the author of this article do not accept culpability for losses and/ or damages arising from the use of this publication.