Emirates NBD prices 10 year NC5 at 4.875%, gets $2.6bn book
Emirates NBD priced $750m 10 year non-call five subordinated bond on Monday inside guidance with a 4.875% coupon. The deal achieved a book in excess of $2.6bn from more than 160 orders.
The final coupon indicates the notes were priced closer to a five year bullet subordinated bond than a 10 year. A syndicate official away from the deal said on Monday that 5% area was in line with a 7.5 year.
This was ENBDs first deal using the structure since
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