ENBD likely to sign a USD1.25bn loan with a syndicate of international banks
Emirates NBD is likely to sign a three year syndicated loan next week. The loan, arranged by Bank of America Merrill Lynch and Emirates NBD Capital, launched at USD1.25bn, but could be increased to as much as USD1.5 bn. Proceeds of the deal will refinance an existing USD800mn loan that matures in December. That deal was signed in December 2013 and priced at 140bp over Libor. (Reuters) Emirates NBD (DU): AED8.20 as of 14 June, Rating: Buy, FV: AED10.00/share, MCap: USD12,418mn, EMIRATES UH / ENBD.DU
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