CBD hires banks for US dollar-denominated bond issuance

SourceMubasher
SectorFinancial Services
CountryUnited Arab Emirates

The Tier 1 benchmark bonds would be non-callable for six yrs 12 October 2020 11:22 AM Dubai – Mubasher: Commercial Bank of Dubai (CBD) has hired banks to arrange for potential issuance of US dollar-denominated perpetual bonds, Reuters reported. The additional Tier 1 benchmark bonds of at least $500 million in size would be non-callable for six years, according to a cited document issued by one of the banks. The hired banks comprise Citi, Standard Chartered, Barclays, Emirates NBD, First Abu Dhabi Bank (FAB), and Nomura. It is noteworthy to mention that in the first half (H1) of 2020, the bank's net profits dropped to AED 530.431 million, compared to AED 701.15 million in the same period of 2019. ...read more...