|From Banking-business-review.com: Emirates NBD has issued AED4 billion Tier 1 Debt Securities. These securities would enable the Bank’s Tier 1 capital adequacy ratio to exceed 11%, and the overall capital ratio to exceed 17%. The sole investor for this issue is the Investment Corporation of Dubai.
The securities have a fixed rate coupon of 6.45% for the first five years, before becoming floating rate. The UAE Central Bank has confirmed Tier 1 Capital status for Capital Adequacy purposes.........Full Article: Source