First Abu Dhabi Bank issued additional tier 1 capital bonds at a fixed price of 750 million USD for a period of six years.
According to the Emirates News Agency, First Abu Dhabi Bank attracted orders worth more than $ 1.5 billion from more than 115 high-quality investors, which enabled the bank to issue the amount. The $ 750 million required at a rate of 4.5%, making it the lowest yield of additional Tier 1 equity securities denominated in US dollars across the Middle East and North Africa region.
Rola Al-Kady, Group Chief Finance Officer at First Abu Dhabi Bank, said: “Reaching the target volume and price for the issuance is in light of the current challenges in global markets and the widespread demand by the Group Diverse investor profile reflects First Abu Dhabi Bank's strong credit basis and investor confidence in it.
