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Abu Dhabi’s NBAD issues $20M at 4.8percent in private placement

National Bank of Abu Dhabi (NBAD) , the largest bank by market value in the UAE issued $20 million in a private placement under its existing bond programme, a statement said on Monday.

September 12, 2011 11:58 by

The bond was issued at a fixed rate coupon of 4.8 percent a year and matures in 2036, representing the longest tenor issue from a Gulf Arab bank, the statement from Standard Chartered said.

Standard Chartered acted as sole bookrunner for the deal, which falls under NBAD’s $5 billion euro medium term notes (EMTN)programme. (Reporting by Rachna Uppal; Editing by Shaheen Pasha)

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