Abu Dhabi's NBAD Plans US Dollar Benchmark Bond Issue
03/19/2012| 04:20am US/Eastern
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The National Bank of Abu Dhabi PJSC (>> National Bank of Abu Dhabi) is planning a benchmark-size, dollar-denominated bond, one of the banks running the deal said Monday.
Barclays Capital, HSBC Holdings PLC, NBAD and UBS AG are the joint bookrunners on the new bond, which is expected to be priced in the near future, subject to market conditions.
The issuer is rated Aa3 by Moody's Investors Service Inc., A+ by Standard & Poor's Corp. and AA- by Fitch Ratings.
-By Ben Edwards, Dow Jones Newswires; 44-20-7842-9287; ben.edwards@dowjones.com
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