National Bank of Abu Dhabi (NBAD) is not ruling out another bond sale this year, but pricing would have to be tighter than on the bank’s previous issues, Reuters reported, quoting a senior executive.
Speaking on the sidelines of a conference in Abu Dhabi, Mark Yassin, senior general manager, corporate and investment banking division, NBAD, said: "We don’t want to overpay. Investor feedback is always positive but as a bank we are not prepared to issue at the rates previously — pricing will have to be much tighter."
NBAD issued a $750 million five-year bond in March, which priced at 178 basis points over mid-swaps. In June, NBAD tapped the Islamic bond market in Malaysia, raising $156.9 million from a sukuk sale at 4.75 percent, Beltone Financial said in a note.
