Abu Dhabi: First Abu Dhabi Bank (FAB) has priced today the largest ever Swiss Francs (CHF) denominated Green Bond by an international issuer and the first Green bond deal by a MENA issuer in Swiss Francs (CHF). The CHF 260mn 6- year bond was priced at 0.068%, which is inside FAB’s outstanding CHF curve and on a USD basis swaps to a level well inside FAB’s current USD curve too.
This is FAB’s fifth Green Bond issuance after having issued previously in USD and HKD. This issuance also reiterates FAB’s commitment to Green and sustainable finance having now issued more Green bonds than any other financial issuer in MENA.
Rula AlQadi, Managing Director and Head of Group Funding commented: “We are very happy with the results of this landmark deal in the Swiss Franc market. Not only was the issuance a success in terms of size and pricing objectives achieved, but this was targeted to green investors who made up more than 60% of the books thereby diversifying our funding base further. FAB is committed to Green and sustainable finance, having now issued Green Bonds in three different currencies, and will continue to issue in this format opportunistically.”
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About First Abu Dhabi Bank (FAB)
FAB is the UAE’s largest bank and one of the world’s largest and safest financial institutions. FAB’s vision is to create value for its employees, customers, shareholders and communities to grow stronger through differentiation, agility and innovation.
Headquartered in Abu Dhabi, the bank’s international network spans five continents, providing global relationships, expertise and financial strength to support local, regional and international businesses seeking to do business at home and abroad. FAB is a trusted adviser and regional partner to major institutions, emerging companies and individuals seeking to do business in the UAE, the MENA region and beyond. As an engine of growth for the region, it helps customers to thrive and grow stronger by managing risk, providing access to capital and facilitating trade flows across developed and emerging markets.
FAB continuously anticipates evolving requirements, develops innovative solutions and moves in tandem with customers to offer an extensive range of tailor-made products via its market-leading Corporate and Investment Banking (CIB) and Personal Banking Group (PBG) franchises.
Aligned to the Abu Dhabi Economic Vision, inspired by global standards and guided by the expectations of stakeholders, FAB takes a leading role in fostering development and driving change towards a more sustainable future. FAB sees beyond traditional banking and embraces a challenger mindset. Its ambition is to contribute to social and human development, which creates a dynamic, inclusive and tolerant society.
With total assets of AED 919 Billion (USD 250 Billion) as of December-end 2020, FAB is rated Aa3/AA-/AA- by Moody’s, S&P and Fitch, respectively, the strongest combined ratings of any bank in the MENA region. The Bank has been ranked by Global Finance as the Safest Bank in the UAE and the Middle East, and the 32nd Safest Bank globally. The Banker’s Top 1000 World Banks 2020 list, measured by Tier 1 capital, ranked FAB as number one in the UAE, second in the Middle East and #85 across the globe - in addition to ranking the bank #109 by assets in the same list. FAB is also a regional sustainability leader, and a constituent of MSCI ESG Leaders and FTSE4Good EM indices.
For further information, visit: www.bankfab.com , or https://www.growstronger.com/ Grow Stronger or https://www.bankfab.com/en-ae/updates for COVID-19 related updates.
For media inquiries, please contact:
Mira Assaf
Weber Shandwick MENA
Phone: + 971 50 3123518
Fax: + 971 2 449 4833
Email: Massaf@webershandwick.com
Talal Natafji
Weber Shandwick MENA
Phone: +971 50 901 0077
Fax: + 971 2 449 4833
Email: TNatafji@webershandwick.com
© Press Release 2021
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