National Commercial Bank USD1.25bn 3.5% PNC6 AT1

By Mariam Meskin
21 Jan 2021

Rating: A1/BBB+/A-

Amount: $1.25bn Reg S AT1

Maturity: Perpetual (PNC6)

Issue/reoffer price: 100.00

Coupon: 3.5%

Spread at reoffer: 288.900bp over US Treasuries

Launched: Wednesday, 20 January

Payment date:26 January

Joint books: Citi, Emirates NBD Capital, Goldman Sachs, JP Morgan, MUFG, NCB Capital, Standard Chartered


Bookrunners’ comment:

NCB was ...

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