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UAE's First Gulf Bank eyes 5-yr bond issue, launch soon

DUBAI, Oct 1 (Reuters) - Abu Dhabi-listed First Gulf Bank

plans to issue a five-year, benchmark-sized dollar-denominated bond imminently, according to arranging banks.

Citi , National Bank of Abu Dhabi , HSBC , Standard Chartered and Deutsche Bank

are arranging the deal. Early price talk was seen at 220 basis points over midswaps.

Benchmark-sized is understood to mean at least $500 million.

Reuters reported last week that the lender, the second biggest by market value in the United Arab Emirates, was eyeing a new bond sale.

(Reporting by Rachna Uppal; Editing by Amran Abocar)

((rachna.uppal@thomsonreuters.com)(+971 4 366 4240)(Reuters Messaging: rachna.uppal.reuters.com@reuters.net))

Keywords: FGB BOND/

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C
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HSBA
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STAN
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