First Abu Dhabi Bank is expected to raise 500 million euros ($553.90 million) in five-year green bonds at 70 basis points over mid-swaps, a document showed on Thursday.

The spread was tightened from initial price guidance of about 85 basis points after orders topped 685 million euros, the document from one of the banks showed.

Barclays, Deutsche Bank, First Abu Dhabi Bank and Standard Chartered are arranging the deal, which is expected to launch later on Thursday.

($1 = 0.9027 euros)

(Reporting by Yousef Saba; Editing by Kirsten Donovan)