Dubai – Mubasher: Mashreq Bank has raised $175 million by tapping a $500 million bond issued by the bank in February, Reuters reported on Wednesday.
An existing transaction is reopened for subscription, using the same documentation as before.
The Dubai-based bank appointed Citi and Bank of America Merrill Lynch as joint bookrunners for the issue.
In February, the bank started marketing dollar-dominated bonds with an initial price guidance about 200 basis points over mid-swaps.
The UAE’s lender expected to raise $500 million with the issuance.
