UAE's NBAD picks banks for five-year Aussie bond-IFR

SYDNEY, March 11 (IFR) - National Bank of Abu Dhabi

NBAD.AD (NBAD), the emirate's largest lender, has mandated four banks to arrange a five-year bond denominated in Australian dollars.

The lender has picked ANZ ANZ.AX , Citigroup C.N , HSBC

and itself to arrange the Kangaroo bond.

NBAD, rated Aa3/AA-/AA-, issued only the second Kangaroo bond from a Middle Eastern issuer on February 28, 2013.

The bank attracted an order book of over A$1.3 billion ($1.17 billion) for a A$300 million five-year offering with a 5 percent coupon that priced 175bp wide of asset swaps and flat to its US dollar curve.

The only previous Kangaroo deal from the Middle East was in November 2006 when Emirates Bank International, rated A/A1/A, issued an A$250m fixed- and floating-rate three-year Kangaroo that met with a lukewarm response from investors. ($1 = 1.1086 Australian dollars)

(Reporting by John Weavers; Editing by David French)

((davidj.french@thomsonreuters.com; +971 4 362 5864; Reuters Messaging: davidj.french.thomsonreuters.com@reuters.net))

Keywords: EMIRATES NBAD/AUSSIE