National Bank of Ras Al Khaimah, also known as Rakbank, on Monday said it has mandated a number of banks to arrange a series of fixed income investor meetings in Hong Kong, Singapore and London.
Bank ABC, Citi, Emirates NBD Capital, First Abu Dhabi Bank, ICBC and Standard Chartered Bank, acting as as joint lead managers and bookrunners, will begin the meetings on Thursday, ahead of Rakbank's proposed bond.
A 5-year benchmark regulation S senior unsecured US Dollar bond offering, under Rakbank’s $2 billion Programme, will follow subject to market conditions, state news agency WAM reported.
A benchmark issuance typically refers to a transaction size of $500 million or more.
The funds will be used as part of the bank’s liquidity management pool in advance of the repayment of the existing bond maturing in June.For all the latest banking and finance news from the UAE and Gulf countries, follow us on Twitter and Linkedin, like us on Facebook and subscribe to our YouTube page, which is updated daily.
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