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Sun 17 Oct 2010 12:51 PM

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UAE lender NBAD's board to mull bond issue on Oct 26

Discussion to be on issuing bonds under Australian and NZ dollar medium term note programme

UAE lender NBAD's board to mull bond issue on Oct 26
Abu Dhabi-controlled NBAD is the UAEs largest bank by market value. (Getty Images)

National Bank of Abu Dhabi's

board will discuss issuing bonds under its Australian

and New Zealand dollar medium term note programme at its Oct. 26

meeting, the lender said in a statement on Sunday.

An issue under the program was approved in 2007, NBAD said.

Abu Dhabi-controlled NBAD, the UAE's largest bank by market

value, issued a $750 million five-year bond in March which

priced at 178 basis points over midswaps.

Last month, a senior NBAD official said pricing on any new

bond this year would need to be tighter than on its previous

issues.

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