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NBAD issues $123.8 million samurai bond.

"We are very pleased to again be the market leader from the GCC in terms of our issuance platform and see this as a major breakthrough. This shows the commitment we have to our well publicised diversification strategy," said Stephen Jordan, the Senior Vice President and the General Manager of Liquidity Management & Interest Rates Product Group at NBAD's Financial Markets Division.

NBAD's samurai bond matures in 2026 and has a fixed coupon rate of 2.6 per cent. Mistubishi UFJ Morgan Stanley Securities and HSBC Securities Japan were the joint lead managers of the bond.

"This successful transaction follows our previous groundbreaking debt issuance in Malaysia and once again confirms NBAD as a market leader from the GCC," Jordan said. "NBAD will continue on its diversification strategy which will likely provide opportunities for other issuers from the GCC to tap certain markets, especially in Asia."

A samurai bond is a yen-denominated bond issued in Tokyo by non-Japanese companies.

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Publication:CPI Financial
Date:Jul 13, 2011
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