Business & Finance
Top UAE bank FAB starts selling debut bonds in euros
- It tightened by 20 bps from initial price guidance after receiving more than 1.45 billion euros.
- Barclays, First Abu Dhabi Bank, JPMorgan , Societe Generale and Standard Chartered are arranging the debt sale, expected to launch later on Tuesday.
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DUBAI: First Abu Dhabi Bank, the largest lender in the United Arab Emirates, set the spread for its debut euro-denominated bonds at 55 basis points over mid-swaps, a document showed on Tuesday.
It tightened by 20 bps from initial price guidance after receiving more than 1.45 billion euros ($1.75 billion) in orders for the benchmark five-year bonds, the document from one of the banks on the deal showed.
Barclays, First Abu Dhabi Bank, JPMorgan , Societe Generale and Standard Chartered are arranging the debt sale, expected to launch later on Tuesday.