Published: Jun 18, 2014
Source: Emirates 24|7

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Rakbank concludes issuance of $500 million bond

Bond will pay annual coupon of 3.250 per cent

The National Bank of Ras Al Khaimah successfully priced a 5-year $500 million bond issuance. The bond was issued at 99.275 per cent and will pay an annual coupon of 3.250 per cent, equivalent to 160bps over 5-year USD Mid Swaps.

The issuance marks Rakbank’s return to the bond markets after a hiatus of almost ten years and is the first non-government issuance from the emirate of Ras Al Khaimah. Read more>>>

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