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Bond Market News
Emirates NBD to Launch Open Offer for RBL Bank Stake
May 26, 2026
Emirates NBD will launch a mandatory open offer from June 1 to acquire up to a 26% stake in India’s RBL Bank from public shareholders in a $3bn deal. The offer price is set at INR 282.38/share ($2.96/share) including interest, representing a 15% discount to the stock’s closing price on Friday. The open offer follows Emirates NBD’s October announcement to buy a majority stake in RBL Bank. The deal recently secured crucial approvals from India’s central bank and government and marks one of the largest cross-border banking deals in India.
Emirates NBD’s dollar bonds traded stable across the curve with its 6.25% Perp trading at 101.62, yielding 5.81%
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