DUBAI, June 17 United Arab Emirates-based lender
National Bank of Ras Al Khaimah (RAKBANK) is due to
price a benchmark-sized five-year debut bond as early as
Tuesday, a document from lead managers said.
RAKBANK, rated BBB+ by Fitch, has concluded meetings with
fixed income investors and has already drawn an order book of
more than $1 billion for its offering, the document said.
The lender had announced initial price thoughts in the area
of 170 basis points over midswaps on Monday.
RAKBANK has chosen National Bank of Abu Dhabi and
Standard Chartered to arrange the bond sale.
A benchmark-sized bond is usually considered to be $500
million or more.
(Reporting by Archana Narayanan; editing by Matt Smith)