First Abu Dhabi Bank's final-terms notice, published on Tuesday, confirmed the issuance of USD 500 million in five-year fixed-rate senior unsecured notes due September 2031 under its EMTN programme, following strong investor demand.
The notes, issued as EMTN Series 200, were priced the previous week as a five-year senior unsecured bond carrying a coupon of 5.456%.
PRICING TIGHTENED 25 BASIS POINTS
Final pricing came at US Treasuries plus 90 basis points, tightened by 25 basis points from initial price thoughts of plus 115 basis points. Orders exceeded $1 billion, more than double the size of the deal, excluding interest from joint lead managers, Zawya reported.
The notes were issued under FAB's USD 30 billion EMTN Programme.
CREDIT RATINGS
First Abu Dhabi Bank is rated Aa3 by Moody's, AA- by Standard & Poor's and AA- by Fitch.
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