Dubai – Mubasher: Emirates NBD has hired banks to call investors for potential issuance of US dollar-denominated bonds, Reuters reported.

The hired banks are Emirates NBD Capital, HSBC, Standard Chartered, Bank of America, Citi, and First Abu Dhabi Bank (FAB) that will arrange for the potential transaction.

The additional perpetual Tier 1 bonds have no maturity and are non-callable for six years.

It is noteworthy to mention that during the first quarter (Q1) of 2020, the bank's net profits declined by 24% year-on-year (YoY) due to higher impairment charges.