The move underlines the growing importance of bilateral
economic and financial relations between the Gulf Arab states and China.
Emirates NBD announced the investor meetings just days
after reports it had been considering a Swiss franc-denominated issue.
The lender, the emirate's largest, has picked HSBC,
Standard Chartered, and its own unit, ENBD Capital, to run the roadshows, which
will take place in Hong Kong and Singapore from Feb. 22.
An offshore Chinese renminbi-denominated bond may follow,
subject to market conditions, the statement added.
"While many global entities have tapped the dim sum
market in recent months it remains a new market for GCC (Gulf Cooperation
Council) borrowers," said Chavan Bhogaita, head of markets strategy unit
at National Bank of Abu Dhabi.
"Should this deal prove to be successful, and
attract strong demand, it could be significant in terms of highlighting another
potential pool of liquidity for GCC issuers."
Last month China signed a bilateral currency swap
agreement with the UAE worth 35 billion yuan ($5.54 billion), China's first
currency swap deal in the Middle East, in a move to boost two-way trade and
investment.
In the first 11 months of 2011 trade between China and
the UAE grew to $32.0 billion in value, a rise of 38.2 percent on the same
period in 2010, according to Chinese customs data. Chinese exports to the UAE,
worth $24.3 billion, dominated that trade.
Meanwhile the central banks of China and Qatar earlier
this month agreed to strengthen cooperation in areas including the development
of their financial markets.
