Roadshows for the first drawdown of the euro medium-term note (EMTN) programme of Arab Banking Corporation (ABC)will begin on 9 November. National Bank of Abu Dhabi (NBAD)has also announced plans for a programme and has mandated arrangers.
Roadshows for the first drawdown of the euro medium-term note (EMTN) programme of Arab Banking Corporation (ABC)will begin on 9 November. National Bank of Abu Dhabi (NBAD)has also announced plans for a programme and has mandated arrangers. The ABC roadshows will begin in Singapore on 9 November and will move to Europe the following week. The issue will have a five-year tenor and will be of benchmark size. Citigroupand HSBC are the lead managers and bookrunners. NBAD is planning a $5,000 million EMTN programme, managed by Credit Suisse First Boston (CSFB). Shareholders' approval will be sought at an extraordinary general meeting (EGM) on 22 November and the first drawdown of $750 million-800 million could come to market before the end of the year. It will be lead managed by CSFB and Barclays Capital. Other banks planning EMTN programmes include Samba Financial Group, Riyad Bank, National Bank of Dubai and Bank of Bahrain & Kuwait(MEED 14:10:05).
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