Middle East Economic Survey


No 12



NBAD Issues $750Mn, Five-Year Benchmark Bond

National Bank of Abu Dhabi (NBAD) has issued a five-year benchmark bond worth $750mn, the first debt issue from the UAE since Dubais debt crisis erupted in November, Reuters reported on 18 March. The new bond was priced at 178 bps over mid swaps, maturing on 21 March 2015. Bank of America Merrill Lynch, HSBC, Barclays Capital and NBAD were lead managers for the bond issue. NBAD is exposed to...