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First Abu Dhabi Bank starts selling 5-year debt - IFR
1 min Mena Today
The UAE's largest lender First Abu Dhabi Bank has given initial price guidance at 120 basis points over U.S. Treasuries for its 5-year benchmark-sized debt issuance, fixed income news service IFR reported on Wednesday.
First Abu Dhabi Bank (FAB) is the largest bank in the United Arab Emirates
The UAE's largest lender First Abu Dhabi Bank has given initial price guidance at 120 basis points over U.S. Treasuries for its 5-year benchmark-sized debt issuance, fixed income news service IFR reported on Wednesday.
The UAE lender has hired Citi, First Abu Dhabi Bank, HSBC, ICBC Dubai, Societe Generale and Standard Chartered Bank as joint lead managers and bookrunners for the debt sale, IFR said.
The debt is expected to be priced later in the day, IFR added.
First Abu Dhabi Bank (FAB) is the largest bank in the United Arab Emirates (UAE) and one of the leading financial institutions in the Middle East and North Africa (MENA) region.
It was formed in 2017 as a merger between the National Bank of Abu Dhabi (NBAD) and First Gulf Bank (FGB), creating a banking powerhouse with a strong presence in the UAE and beyond.
Reporting by Mohammad Edrees
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