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The UAE’s First Abu Dhabi Bank PJSC (FAB) has priced its $750 million Regulation S five-year senior unsecured Eurobond at a fixed coupon of 4.299%.
The bond carries a spread of 60 basis points over US Treasuries and a yield of 4.299%, with a re-offer price at par.
Investor demand was strong, with the final order book exceeding $2.8 billion (excluding joint lead managers). Initial price thoughts were set at T+95bp, before tightening to T+60bp on robust interest.
FAB mandated Citi, First Abu Dhabi Bank, HSBC, Mashreq Bank, Societe Generale, and Standard Chartered Bank as joint bookrunners for the transaction.
(Writing by Brinda Darasha; editing by Bindu Rai)
