Abu Dhabi – Mubasher: The National Bank of Ras Al Khaimah (RAKBank) plans to raise $500 million in five-year bonds, Reuters reported.

The  Ras Al Khaimah-based lender will offer investors 185 basis points over mid-swaps, a document revealed.

On Tuesday, the bank began marketing the notes with initial price guidance worth 210 basis points over the benchmark.

RAKBank has appointed Bank ABC, Citi, Emirates NBD Capital, First Abu Dhabi Bank (FAB), ICBC, and Standard Chartered Bank to lead-arrange the deal.