UAE - Mubasher: Emirates Development Bank (EDB), fully owned by the UAE federal government, has set an initial price outlook of between 105 and 110 basis points over mid-swaps for US dollar-denominated bonds, Reuters reported.

Emirates NBD Capital, Standard Chartered, Goldman Sachs International, and Industrial and Commercial Bank of China are arranging the transaction, according to a cited document from one of the banks.

The transaction for the five-year US-denominated bonds is forecast to close later in the day.

Noteworthy to mention, sources previously told Bloomberg that the bank is planning to issue its second international bonds this month to raise $750 million or more.