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National Bank of Abu Dhabi to meet A$ investors
NBAD's visit is to promote the Middle East financial sector in Australia.
July 23, 2010 10:23 by Reuters
State-owned National Bank of Abu Dhabi (NBAD) and Australia’s Macquarie University will meet next week with Australian bond investors for the first time, two fund managers said on Friday.
A number of Australian borrowers have hosted “non-deal roadshows” this year and many have resulted in bond issues.
Issuers tend to prefer calling such presentations non-deal or updates in case market conditions change and prevent an issue.
NBAD does not plan to sell a bond issue in the short-term, one of the investors said.
The stated purpose of NBAD’s visit is to promote the Middle East financial sector in Australia, the fund manager added.
ANZ is arranging the meetings scheduled in Melbourne on Tuesday, Sydney on Wednesday and Brisbane on Thursday.
NBAD is the the second-largest bank in the United Arab Emirates by assets and is rated A-plus by S&P, Aa3 by Moody’s and AA-minus by Fitch.
Separately, Macquarie University will also be meeting with Australian bond investors.
ANZ and Commonwealth Bank of Australia are jointly hosting the presentations due to take place in Sydney on Thursday and in Melbourne on Friday.
Macquarie University received in March an Aa2 rating from Moody’s. There has never been a bond issue by a university in Australia.
(Reporting by Cecile Lefort; Editing by Ed Davies)