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CBD starts marketing perpetual dollar bonds

CBD starts marketing perpetual dollar bonds
The bank is issuing the Additional Tier 1 (AT1) bonds
CBD
CBD
-0.14% 6.95 -0.01

Dubai – Mubasher: Commercial Bank of Dubai (CBD) began marketing the US dollar-denominated perpetual bonds with initial price guidance of about 6.375%, Reuters reported.

The bank is issuing the Additional Tier 1 (AT1) bonds that are non-callable for six years, according to a cited document by one of the banks arranging the deal.

It is noteworthy to mention that the CBD has hired Citi, Standard Chartered, Barclays, Emirates NBD, First Abu Dhabi Bank (FAB), and Nomura to arrange for potential issuance of the additional Tier 1 benchmark bonds of at least $500 million in size.