Abu Dhabi – Mubasher: The National Bank of Ras Al Khaimah (RAKBANK) is reportedly in talks over a bond issue worth $500 million.
The talks are in their early stages and involve a loan deal, Al Bayan newspaper reported, citing Bloomberg sources.
The bond issue date will depend on market conditions, the sources added.
RAKBANK’s recent financial disclosure indicated a 12% decline in debt investments to AED 4.20 billion by the end of June 2017 from AED 4.67 billion by the end of December 2016.
The Abu Dhabi-listed bank, which is 49%-owned by the Ras Al Khaimah government, reported a 16% rise in profits to AED 226.74 million in Q2-17 on the back of lower provisions.
