June 10, 2019 / 1:00 PM / 3 months ago

Emirates NBD hires Mizuho to arrange $200 mln syndicated loan - LPC

DUBAI, June 10 (Reuters) - Emirates NBD, Dubai’s largest bank, has mandated Japan’s Mizuho Bank to arrange a $200 million loan, according to Loan Pricing Corporation (LPC), a fixed income news service that is part of Refinitiv.

The loan has tranches with three- and five-year maturities and a $200 million greenshoe option, meaning the final size could rise to as much as $400 million.

Emirates NBD declined to comment while Mizuho did not immediately respond to a request for comment.

The $200 million loan is being syndicated to other banks and offers interest margins of 80 basis points and 110 basis points over the London interbank offered rate for the three- and five-year tranches, respectively, LPC reported.

Emirates NBD, which is 55.6 percent owned by state fund Investment Corp, is a regular borrower in the bank debt markets.

Last year it raised a $2 billion three-year loan involving a group of 18 lenders.

Reporting by Davide Barbuscia; Editing by Kirsten Donovan

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