First Abu Dhabi Bank raises $600mln via bonds - document

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FAB sold the bonds at a spread of 105 basis points (bps) over U.S. Treasuries from initial guidance of around 130 bps over the same benchmark after demand topped $1.45 billion, the document showed

Yousef Saba, Reuters News

January 18, 2023

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DUBAI - First Abu Dhabi Bank sold $600 million in senior unsecured bonds maturing in 5-1/4 years, a bank document showed on Wednesday.

FAB sold the bonds at a spread of 105 basis points (bps) over U.S. Treasuries from initial guidance of around 130 bps over the same benchmark after demand topped $1.45 billion, the document showed.

Citi, Emirates NBD, FAB, HSBC and Standard Chartered are joint lead managers and bookrunners on the debt sale.

(Reporting by Yousef Saba; Editing by Louise Heavens and Mark Porter)

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