Abu Dhabi-listed Union National Bank (UNB) plans to tap its existing $400 million 2016 bond on Wednesday, arranging banks said.

Price guidance for the issue was released in the 2.7 percent area, but final size is still to be determined.

Citigroup, Standard Chartered, HSBC, Deutsche Bank and National Bank of Abu Dhabi are bookrunners on the deal.

UNB said in a bourse statement on Tuesday it planned to tap debt markets "shortly". It issued the $400 million bond in November last year, which carries a 3.875 percent coupon. – Reuters