Commercial Bank of Dubai picks 6 banks for potential dollar bond

Commercial Bank of Dubai (CBD) has picked six banks to arrange investor meetings starting Thursday ahead of a potential US dollar-denominated bond issue, a document from lead arrangers showed on Monday.

The lender has mandated Citigroup, ING, JP Morgan, National Bank of Abu Dhabi, Natixis, and Standard Chartered for the bond offer, the document showed.

CBD, rated A- by Fitch and Baa1 by Moody's, will be issuing a benchmark-sized bond under its existing $2 billion medium term note programme, the document showed.

The bank will meet investors in Singapore on Thursday, Hong Kong on Friday, the United Arab Emirates on Sunday before concluding the meetings on Monday in London.

Benchmark usually means at least $500 million.