Abu Dhabi – Mubasher: First Abu Dhabi Bank (FAB) has sold 5-year Formosa bonds at a total value of CNY 1.4 billion ($197.3 million) and with an interest rate of 3.5%, according to Reuters.

The document showed that Credit Agricole, HSBC, and Standard Chartered were lead managers of the transaction, and FAB was a structuring agent.

To be listed on the London Stock Exchange and Taipei Exchange, the bonds have a fixed rate to be paid every year in arrears and will be used for the bank's general purposes.

In May, FAB sold 30-year Formosa bonds with a 0% coupon at a total value of $500 million in a private placement.