First Abu Dhabi Bank set an initial indicative price of about 200 basis points above US Treasury bonds for its bonds expected to be issued worth $750 million.
A bank document revealed that First Abu Dhabi intends to sell second-level bonds denominated in dollars for a period of 10 and a half years, according to Reuters.
It will be non-callable for 5 and a half years, and will be priced later today.
Yesterday, Monday, a banking document showed that First Abu Dhabi Bank had appointed banks for the potential sale of dollar-denominated bonds of the standard size.
The document indicated that this may be followed by the issuance of second-level bonds that mature in 10.5 years, and will be non-callable for a period of 5.5 years.
A document issued by one of the banks organizing the process showed that Citibank, Emirates NBD Capital, First Abu Dhabi, JP Morgan and Standard Chartered are acting as lead managers and joint bookrunners.
