Emirates NBD offering debt swap

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Dubai’s largest bank has announced that it will be offering a debt swap to investors in an effort to bolster capital adequacy.  Emirates NBD will offer dated notes due in 2018 to investors of notes due in 2016 until May 26th.  The notes have an approximate value of $518 million.  This moves comes after significant foreign anxiety over the banking industry in Dubai after the lasting turmoil in the Middle East and the recent government takeover of Dubai Bank.

As the recent property bust in Dubai subsides while international demand for oil increases, the Emirates have seen some stabilizing of the financial industry. However, Emirates NBD is still set to see $773 million worth of debts mature this year.  Other Emirati banks are facing similar realities, but analysts insist that investor confidence remains high.

 

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Reading Time: 1 minute

Dubai’s largest bank has announced that it will be offering a debt swap to investors in an effort to bolster capital adequacy.  Emirates NBD will offer dated notes due in 2018 to investors of notes due in 2016 until May 26th.  The notes have an approximate value of $518 million.  This moves comes after significant foreign anxiety over the banking industry in Dubai after the lasting turmoil in the Middle East and the recent government takeover of Dubai Bank.

Reading Time: 1 minute

Dubai’s largest bank has announced that it will be offering a debt swap to investors in an effort to bolster capital adequacy.  Emirates NBD will offer dated notes due in 2018 to investors of notes due in 2016 until May 26th.  The notes have an approximate value of $518 million.  This moves comes after significant foreign anxiety over the banking industry in Dubai after the lasting turmoil in the Middle East and the recent government takeover of Dubai Bank.

As the recent property bust in Dubai subsides while international demand for oil increases, the Emirates have seen some stabilizing of the financial industry. However, Emirates NBD is still set to see $773 million worth of debts mature this year.  Other Emirati banks are facing similar realities, but analysts insist that investor confidence remains high.

 

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