State-owned National Bank of Abu Dhabi has launched a $5 billion euro medium term note programme (EMTN), a base prospectus showed.

NBAD, the second largest bank in the UAE by assets, said the notes may be issued in any currency and any maturity of at least one month, but did not give details about the timing and sizes of individual tranches, or specify the purpose of the programme.

NBAD officials were not immediately available for comment. Barclays Capital is the arranger for the programme, the prospectus showed.

NBAD, which is 70.5 percent owned by Abu Dhabi's government, sold a five-year benchmark bond worth $750 million in March in the first debt issue from the UAE since Dubai's November debt crisis.

The lender has made several issuances under its $5 billion EMTN programme since December 2005 with maturities ranging between 2010 and 2019.

The outstanding amount from this programme stood at 12.2 billion dirhams ($3.32 billion) at the end of March, the prospectus showed. NBAD has outstanding bonds totalling $4.1 billion, Reuters data show.

NBAD, rated 'A plus' by Standard & Poor's and 'Aa3' by Moody's, is exposed to debt-ridden Dubai World units. Fitch assigned the bank with the 'AA minus' rating. - Reuters