Bahrain’s Bank ABC has dropped plans to issue a $400 million Reg S AT1 Capital Securities after it announced initial price thoughts of 8% last week.

The bank confirmed it had decided to reassess the timing of the issuance given current market dynamics, and will revisit it when conditions become more favourable.

(Writing by Imogen Lillywhite; editing by Seban Scaria)

imogen.lillywhite@lseg.com