Emirates NBD finds ‘structured liquidity solution’ to Dubai debt issues

Emirates NBD has taken out a $410m bilateral five year loan from JP Morgan, secured against the Gulf financial institution’s own portfolio of syndicated loans, according to Mohammad Kamran Wajid, general manager, institutional and international banking and debt capital markets at Emirates NBD.

  • 29 Nov 2010

The multi-currency loan has a margin of 175bp and Kamran says that one of the motivations for doing the deal was to set a new price benchmark for Gulf-based banks.

"The key message we’re trying to give on this loan is the pricing," said Wajid. "After the announcement that ...

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Rank Lead Manager/Arranger Total Volume $m No. of Deals Share % by Volume
1 BNP Paribas 15,256 32 17.31
2 Bank of America Merrill Lynch (BAML) 9,637 29 10.93
3 Citi 8,264 22 9.37
4 Lloyds Bank 7,329 24 8.31
5 JP Morgan 6,580 10 7.46

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4 Wells Fargo Securities 91,373.90 263 7.89%
5 Credit Suisse 76,186.18 204 6.58%