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Abu Dhabi Commercial Bank (ADCB), rated A+ (Stable) by S&P and Fitch, has raised $300 million from a five-year floating rate Formosa bond, priced at SOFR +78bps.
The senior bonds have a rating in line with the issuer.
Standard Chartered Bank (Taiwan) and ANZ Taipei branch are the lead managers on the issuance.
The Abu Dhabi lender issued two Formosa bonds last year with both taps, in February and May, raising $600 million each, with five-year tenors. The first issuance was priced at SOFR +105bps, with the second tap at SOFR +100bps.
(Writing by Bindu Rai, editing by Seban Scaria)
