EBI will issue paper with maturity of one-six months, denominated in euros, dollars, sterling and Swiss francs. Barclays
will join BoA and UBS as dealers. The size and maturity of the first tranche remain to be finalised. EBI is also undertaking a euro medium-term note (EMTN) programme, which was increased in scope in late 2004 to $3,500 million from $1,000 million (MEED 10:12:04).
Riyad Bank is planning both ECP and EMTN programmes, each worth in excess of $1,000 million. BoA and JP Morgan
have been mandated to arrange the EMTN, with the first drawdown expected in the autumn.
Also due in late 2005 are EMTN issues by Arab Banking Corporation
, Bank of Bahrain & Kuwait
and Samba Financial Group
National Bank of Ras al-Khaimah
is also planning an EMTN programme worth a total of $500 million, subject to shareholder approval at a forthcoming extraordinary general meeting of shareholders. Standard Chartered Bank
and National Bank of Abu Dhabi
have been selected as arrangers. The first drawdown is likely to be worth in the region of $150 million.