Middle-east Arab News Opinion | Asharq Al-awsat

Emirates NBD eyes $2 Billion Foreign Currency Bonds - ASHARQ AL-AWSAT English Archive
Select Page

DUBAI,(Reuters) – Emirates NBD, the Gulf’s largest lender by assets, plans to sell up to $2 billion of bonds in Japanese yen and Malaysian ringgit to help finance its regional and international expansion plans.

The Dubai-government controlled lender is putting in place programmes of around $1 billion in both currencies and will look to issue the bonds “when the opportunity presents itself”, Tony Bush, head of global funding for Emirates NBD told Reuters on Wednesday.

Issuance of the bonds, which are mainly going to be conventional, could be over two or three years and will target wholesale investors, he said, without elaborating.

“We are already the largest bank by assets in the MENA region and believe that the bank is very well placed to take advantage of the tremendous growth opportunities presented in the UAE and other GCC states,” Bush said.

“To meet this challenge we plan to build on our Abu Dhabi branch network and where we have already one service branch in Riyadh, others are planned. We are also upgrading our rep office in Singapore to a full branch so as to take advantage of the trade flows,” he said.

Sentiment has been improving in global credit markets over the past two months, with a slew of new issues being brought to market including ones by the Dubai government.

Asharq Al-Awsat

Asharq Al-Awsat

Asharq Al-Awsat is the world’s premier pan-Arab daily newspaper, printed simultaneously each day on four continents in 14 cities. Launched in London in 1978, Asharq Al-Awsat has established itself as the decisive publication on pan-Arab and international affairs, offering its readers in-depth analysis and exclusive editorials, as well as the most comprehensive coverage of the entire Arab world.

More Posts

Follow Me:
FacebookGoogle PlusYouTube