Dubai’s Mashreqbank hires Citi, BAML for dollar bond reopening -sources

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DUBAI, May 22 (Reuters) – Dubai-based Mashreqbank has hired Citi and Bank of America Merrill Lynch (BAML) as joint bookrunners for a “tap” of a $500 million bond the bank issued in February, sources close to the matter said.

Under a bond tap, an existing transaction is reopened for subscription, using the same documentation as before.

The new paper is being marketed with an initial price guidance of 4% to 4.1%, the sources said. (Reporting by Davide Barbuscia; editing by Jason Neely)

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