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| 16 October, 2017

Abu Dhabi Commercial bank raises $315mln in bonds

A view of a branch of Abu Dhabi Commercial Bank along Khalid Bin Al-Waleed Road.

A view of a branch of Abu Dhabi Commercial Bank along Khalid Bin Al-Waleed Road.

REUTERS/ Nikhil Monteiro

Abu Dhabi Commercial Bank ADCB.AD has raised $315 million in a triple tranche "Kangaroo" bond issuance

DUBAI - Abu Dhabi Commercial Bank has raised A$400 million ($315 million) in a triple tranche "Kangaroo" bond issuance on Friday, the bank said in a statement.

Kangaroo bonds are issued by non-Australian issuers in the Australian market and are denominated in Australian dollars.

Australia and New Zealand Banking Group Ltd and Nomura International Plc acted as joint lead managers for the offering.

The notes are expected to be rated A by S&P and A+ by Fitch, the bank said.

($1 = 1.2702 Australian dollars)

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(Reporting by Davide Barbuscia; Editing by Christian Schmollinger) ((Saeed.Azhar@thomsonreuters.com; +971 44536787; Reuters Messaging: saeed.azhar.reuters.com@reuters.net))