First Abu Dhabi Bank issued bonds worth more than 3 billion dirhams through two separate public issuances, the first issued in bonds in pounds sterling and the first kangaroo bonds since 2014.
According to the Emirates News Agency, Abu Dhabi issued the first fixed-price bonds worth 450 million pounds, equivalent to 2.15 billion dirhams, for a period of three years.
This is the first and largest issue of its kind ever issued by the financial institution, GBP from the region, while the subscription was covered about 2.8 times with the strong participation of British investors, as the bonds will be listed on the London Stock Exchange.
The bank also raised 350 million Australian dollars, equivalent to 860 million dirhams, through the issuance of kangaroo bonds. The interest rate on treasury bonds for a five-year period was set at 110 basis points on the exchange rate of bank invoices for a period of three months and issued under the debt issuance program amounting to A $ 2 billion The bonds will be listed on the Australian Stock Exchange.
Andre Al Sayegh, Executive Vice President of the First Abu Dhabi Bank Group, head of the institutional and investment banking sector, said: The bank’s ability to benefit from the British and Australian markets in the same week confirms the success of its financing strategy.
He added that the first sterling bonds represent another milestone for the bank as both transactions are in line with our strategy to diversify our investor base while increasing liquidity and cost-effective financing.
He pointed out that the strong levels of bond demand are indicative of the confidence that global investors are creating in Abu Dhabi First Bank.
Last January, First Abu Dhabi Bank issued the first dollar-denominated sukuk in 2020 with a value of US $ 500 million under the US $ 3.5 billion credit certificate program ... The five-year sukuk was priced at 90 basis points and is listed on the London Stock Exchange.
