UAEBusiness

First Abu Dhabi Bank gives initial guidance for $750 million debt sale

It gave initial guidance of about 185 basis points over US Treasuries for a 10.5-year debt transaction, non-callable for 5.5 years: Document

The UAE’s First Abu Dhabi Bank has given initial price guidance for the sale of $750 million Tier 2 Capital Securities, a document showed on Tuesday.

It gave initial guidance of about 185 basis points over US Treasuries for a 10.5-year debt transaction, non-callable for 5.5 years, the document showed.

The UAE’s biggest lender has hired Deutsche Bank, Emirates NBD Capital,First Abu Dhabi Bank, J.P. Morgan and Standard Chartered Bank as joint lead managers and bookrunners for the debt sale, the document added.

Source: khaleejtimes

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