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Reuters
Reuters
Business

Dubai's Emirates NBD sells A$700 million 10-year kangaroo bonds

FILE PHOTO: A customer uses an ATM machine at the Emirates NBD head office in Dubai, UAE January 30, 2018. REUTERS/Satish Kumar

Emirates NBD <ENBD.DU>, Dubai's largest bank, sold A$700 million ($468.51 million) in "kangaroo" bonds with a 10-year maturity, a document showed on Wednesday.

The bonds offer a 3.05% coupon and were priced with a 3.115% yield, according to the document.

Kangaroo bonds are issued by non-Australian issuers in the Australian market and are denominated in Australian dollars.

Emirates NBD, rated A3 by Moody's and A+ by Fitch, hired ANZ, Emirates NBD Capital, Mizuho and Nomura to arrange the deal, which is part of Emirates NBD's A$4 billion debt issuance programme.

(Reporting by Yousef Saba; Editing by Shri Navaratnam)

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