Dubai – Mubasher: Mashreq Bank has begun marketing dollar-denominated bonds with an initial price guidance of about 200 basis points over mid-swaps, a document showed.

The UAE’s lender expects to raise $500 million with the issuance, Reuters reported on Tuesday.

The Dubai-based bank appointed BNP Paribas, BofA Merrill Lynch, Commerzbank, Mashreqbank, Nomura and Societe Generale to lead arrange the deal.

By the end of Monday’s session, Mashreq Bank’s stock fell 10% at AED 72.