Emirates NBD prices CHF150mln green bond

By Zawya

By Staff Writer

Dubai-based lender Emirates NBD has priced a CHF150 million ($183 million) five-year green bond at SARON mid-swaps plus 115 basis points, landing at the wide end of the initial price guidance of plus 110-115 basis points.

The Swiss franc-denominated issue is structured as a green bond and carries a 1.8675% annual coupon. It was priced at par, resulting in a yield to maturity of 1.8675%.

The deal is Emirates NBD's first Swiss franc bond since it issued a CHF235 million five-year note in January 2018, which was subsequently increased by CHF50 million. The 0.625% bond matured in 2023.

(Writing by Brinda Darasha; editing by Seban Scaria)

brinda.darasha@lseg.com

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