SYDNEY, March 11 (IFR) - National Bank of Abu Dhabi
(NBAD), the emirate's largest lender, has mandated
four banks to arrange a five-year bond denominated in Australian
The lender has picked ANZ, Citigroup, HSBC
and itself to arrange the Kangaroo bond.
NBAD, rated Aa3/AA-/AA-, issued only the second Kangaroo
bond from a Middle Eastern issuer on February 28, 2013.
The bank attracted an order book of over A$1.3 billion
($1.17 billion) for a A$300 million five-year offering with a 5
percent coupon that priced 175bp wide of asset swaps and flat to
its US dollar curve.
The only previous Kangaroo deal from the Middle East was in
November 2006 when Emirates Bank International, rated A/A1/A,
issued an A$250m fixed- and floating-rate three-year Kangaroo
that met with a lukewarm response from investors.
($1 = 1.1086 Australian dollars)
(Reporting by John Weavers; Editing by David French)