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/
DUBAI, Oct 1- Abu Dhabi- listed First Gulf Bank. Citi, National Bank of Abu Dhabi, HSBC, Standard Chartered and Deutsche Bank. Reuters reported last week that the lender, the second biggest by market value in the United Arab Emirates, was eyeing a new bond sale.