Emirates NBD (ENBD), Dubai's largest lender, has priced a 100 million New Zealand dollar ($77.6 million) five-year bond, in what the lender said was a first in the currency from a Middle Eastern borrower.

The six per cent coupon translates to spread of 165 basis points over New Zealand midswaps, the rate at which the deal was initially marketed on Monday, the bank said in a statement.

"This represents the cheapest five-year funding raised by Emirates NBD in the last six years," said Shayne Nelson, the chief executive of ENBD.

The issue, arranged by ANZ and Deutsche Bank , came at a reoffer price of 99.664, a separate document showed.

Last month, the lender priced a $500 million, Tier 1 capital-boosting bond at 6.375 per cent.-Reuters