Emirates NBD has announced the successful issuance of New Zealand Dollar (NZD) 100 million Fixed Rate Notes, maturing in October 2019, from their USD 7.5 billion Euro Medium Term Note Programme, the Bank announced in a statement to the Dubai Financial Market (DFM).

The senior notes are rated Baa1 by Moody’s and A+ by Fitch and pay a fixed rate coupon of 6.00%. ANZ and Deutsche Bank acted as joint lead managers on the transaction.

Emirates NBD Group CEO Shayne Nelson commented saying “We are pleased that Emirates NBD is the first Middle East based institution to issue a public note in the New Zealand Dollar market. This represents the cheapest 5-year funding raised by Emirates NBD in the last 6 years. This issue lengthens the bank’s liabilities in a cost effective manner whilst diversifying the investor base.”