NSB US dollar bond on roadshow within the next few weeks
View(s):The National Savings Bank’s (NSB) delayed roadshow overseas aimed at raising a US$500 million bond is slated to kick off in the week, sources close to NSB said.
“NSB is planning a roadshow with lead managers, Barclays, Citigroup and HSBC. The lead managers are arranging investor meetings in the US, Europe and Asia,” a source said, noting that NSB wants to raise international funding this year.
NSB reduced the planned bond amount from $1 billion to $500 million while changing the bond’s tenure from 10 years to less than 10 years, as per the lead managers’ advise. The roadshow was planned for June-July, but the recommendation was not to proceed as the interest rates weren’t favourable, the source said.
comments powered by Disqus