Emirates NBD has issued A$400 million ($371 million) Fixed Rate Notes, maturing in 2019, off Its A$1,500 million Debt Issuance Programme.

The notes are rated Baa1 by Moody’s and A+ by Fitch and pay a fixed rate coupon of 5.75 per cent. ANZ, BNP Paribas, HSBC and Emirates NBD Capital were joint lead managers on the transaction.

This marks the second time Emirates NBD is issuing the notes in the Australian Dollar market, having previously issued A$250 million in 2006, the first ever Middle East based institution to issue an Australian Dollar denominated transaction.

Emirates NBD held investor meetings in the first week of April in Sydney, Melbourne, Hong Kong and Singapore. The bank was represented at investor meetings by Shayne Nelson, Group CEO, Surya Subramanian, Group CFO and Patrick Clerkin, head of Investor Relations and managing director-Group Funding who updated investors on the Group’s performance and credit story.

Last month Emirates NBD announced that it planned to sell at least A$200 million of five-year notes. Following strong demand, price guidance was tightened and the deal was upsized to A$400 million. Investors reacted positively with a final order-book of A$515 million across 93 orders, a statement said.

The issue saw diverse distribution by geography with 32 per cent of orders coming from Singapore, 25 per cent from Hong Kong, 24 per cent from Australia, 10 per cent from Mena and 9 per cent from Europe. – TradeArabia News Service