Dubai’s Mashreq prices CNH1bln 3-year Dim Sum bond

By Zawya

By Staff Writer

Dubai-based lender, Mashreq, has priced a CNH1 billion ($139 million) three-year senior unsecured Dim Sum bond at a fixed coupon of 2.50%, inside the initial price guidance in the 2.95% area.

This marks the lender's first public issuance in the offshore renminbi market.

The issuance attracted strong demand from regional and international investors, with the order book peaking at CNH2.3 billion.

Bank of China, China International Capital Corp, China Securities International, Guotai Junan International, Industrial and Commercial Bank of China, Mashreq and Standard Chartered were appointed as joint lead managers and bookrunners for the transaction.

(Writing by Brinda Darasha; editing by Seban Scaria)

brinda.darasha@lseg.com

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