First Abu Dhabi Bank sold Formosa 1.4-year bonds worth 1.4 billion yuan ($ 197.3 million) at a 3.5% interest.
According to Reuters, a document issued by one of the banks involved in the process stated that Credit Agricole, HSBC and Standard Chartered banks would manage the deal, While First Abu Dhabi Bank acts as a structuring agent.
The document stated that the bond proceeds, which are at a fixed interest rate that is paid annually with retroactive effect, will be used for general purposes of the bank. It will be listed on the London Stock Exchange and Taipei.
