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First Abu Dhabi Bank (FAB) is marketing a 5.5-year GBP benchmark bond, with IPTs at Mid-Gilts +90bbps area. A final pricing is expected today.
The Regulation S Only, Category 2 senior unsecured bond is rated Aa3 / AA-/ AA- by Moody’s/S&P/Fitch, in line with the Abu Dhabi lender’s own rating.
The issuance will come under FAB’s $20 billion Euro Medium Term Note Programme as supplemented.
Barclays, Deutsche Bank, First Abu Dhabi Bank, Standard Chartered Bank and TD Securities are the joint lead managers and bookrunners on the bond, with Standard Chartered as the Billing and Delivery agent.
A listing on the London Stock Exchange’s Main Market is expected to follow.
FCA/ICMA stabilisation rules apply.
This will be FAB’s third debt tap in 2026, with two issuances in January, one as early as two weeks ago with a $750 million raise through a five-year floating rate Formosa bond at SOFR +75bps.
(Writing by Bindu Rai, editing by Seban Scaria)
