Friday, Aug 13, 2010
KUALA LUMPUR (Dow Jones)--Abu Dhabi Commercial Bank (ADCB.AD) which is majority-owned by the government of Abu Dhabi, plans to tap the Malaysian debt market through a MYR500 million ($158 million) conventional ringgit-denominated bond for working capital, a person familiar with the matter said Friday.
"The bonds will have a five-year tenor," the person said, adding that RBS, Standard Chartered Bank and RHB Investment have been mandated to handle the deal.
This will be the Middle Eastern lender's maiden ringgit bond issue and comes after National Bank of Abu Dhabi PJSC, the United Arab Emirates' second-largest lender by assets, sold MYR500 million of Islamic bonds in its first offering of debt in Malaysia last month.
-By Elffie Chew, Dow Jones Newswires; (603) 2026 1233; elffie.chew@dowjones.com
(END) Dow Jones Newswires
13-08-10 0801GMT
