Dubai – Mubasher: Emirates NBD announced that it has commenced marketing permanent US dollar-denominated bonds, a document from one of the banks lead managing the deal showed on Wednesday.

The initial price guidance is within the range of 6.375% and 6.5%, Reuters reported.

Dubai’s largest bank has appointed BNP Paribas, Emirates NBD Capital, First Abu Dhabi Bank, HSBC, Nomura and Standard Chartered Bank to arrange the debt issue.

“The planned deal would be of benchmark size, which generally means at least $500 million, and will be an Additional Tier 1 perpetual bond not callable for six years,” Reuters said.