United Arab Emirates
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The note would be the bank's first trade since its blowout tier one sukuk in the summer -
The price range is enticing funds with a chunky dividend yield of 9.9%-8.4%
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The sovereign wealth fund paid no concession for its green debut
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The book has passed $5.5bn for a deal under $1bn
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International investors are expecting a big sukuk premium
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Even highly rated Emirates NBD had to offer investors a healthy new issue concession
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The cost of developing and issuing new types of securities is worthwhile in the long run
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Recent US Treasury volatility meant the Emirates bank played safe on pricing
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The Dubai real estate firm is a 'niche' issuer for investors, said one fund manager
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The note would be ENBD's first in dollars this year after Kangaroo and UAE dirham notes
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Bankers disagree on how much issuance there will be and who could print, but investors are keen
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The bank paid only a slim concession, if any
