Emirates NBD Plans First Middle East AT1 Bond Sale Since War

Emirates NBD Bank PJSC is looking to sell an Additional Tier 1 bond, in what would be the first offering of the riskiest type of bank debt by a Middle Eastern lender since the start of the war.

Dubai-based Emirates NBD has hired banks to set up investor meetings to discuss a US dollar-denominated issue callable after six years, according to a person familiar with the matter, who asked not to be identified because the information is private. The bankers arranging the potential sale will set up a series of in-person meetings in London as well as virtual meetings, the person said.