DUBAI, March 13 (Reuters) - Emirates NBD , Dubai’s largest bank, started marketing U.S. dollar-denominated bonds with an initial price guidance in the range of 6.375 percent and 6.5 percent, a document from one of the banks leading the deal showed on Wednesday.
The bank has mandated BNP Paribas, Emirates NBD Capital, First Abu Dhabi Bank, HSBC , Nomura and Standard Chartered Bank to arrange the issue.
The planned deal would be of benchmark size, which generally means at least $500 million, and will be an Additional Tier 1 perpetual bond not callable for six years.
Perpetual bonds are similar to an equity instrument in that they have no maturity. (Reporting by Davide Barbuscia; Editing by Richard Borsuk)