Abu Dhabi lender ADCB picks bank for possible bond issue

DUBAI Mon Feb 11, 2013 3:51am EST

DUBAI Feb 11 (Reuters) - Abu Dhabi Commercial Bank has mandated joint lead arrangers for a possible benchmark-sized dollar-denominated bond, the company said in a statement to the bourse on Monday.

The lender has picked itself, Barclays, JP Morgan Chase, ING, National Bank of Abu Dhabi and RBS as lead managers and bookrunners for the possible deal, the statement said.

Benchmark-sized is typically at least $500 million. The deal, which is subject to market conditions, may include senior and subordinated tranches, the statement said.

No further details were given.

Last month, Reuters reported that ADCB had mandated banks for a possible bond issue in the near future.

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