Dubai's Mashreqbank set to raise $500 mln in bonds

DUBAI, Feb 19 (Reuters) - Dubai-based Mashreqbank is set to raise $500 million in five-year bonds, offering investors 175 basis points over mid-swaps, a document by one of the banks leading the deal showed on Tuesday.

Mashreqbank, the largest privately owned bank in the United Arab Emirates, started marketing the notes earlier on Tuesday with an initial guidance of about 200 bps over mid-swaps.

It received orders in excess of $1.8 billion, according to the document.

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