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Dubai's Mashreq hires banks for sale of AT1 notes, document says
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Dubai's Mashreq hires banks for sale of AT1 notes, document says
May 28, 2024 10:52 PM

May 29 (Reuters) - Dubai-listed Mashreqbank

has hired banks for the sale of dollar-denominated perpetual

non-callable for 5.5-year additional tier notes, an arranging

bank document showed on Wednesday.

The Dubai lender has selected Abu Dhabi Commercial Bank

, Al Ahli Bank of Kuwait (DIFC Branch), BofA

Securities, Citi, Emirates NBD Capital, First Abu

Dhabi Bank, Kamco Investment Company, Mashreq

and Mizuho as joint lead managers and joint bookrunners, the

document said.

The debt transaction is reported to be benchmark-sized,

which is typically understood to be at least $500 million.

Investor meetings for the planned debt sale are scheduled to

take place starting May 30, the document added.

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