Abu Dhabi – Mubasher: First Abu Dhabi Bank (FAB) has issued GBP 400 million ($546.56 million) bonds due in December 2025 at 98 basis points over UK gilts, Reuters reported.

The Emirati bank has set initial price guidance of about 115 basis points over UK gilts due in September 2025, while receiving GBP 850 million in orders for the bond sale, as shown by a document published by one of the banks arranging the deal.

Barclays, First Abu Dhabi Bank (FAB), HSBC, and TD Securities arranged the transaction.

It is noteworthy to mention that in 2020, FAB reported AED 10.6 billion in net profits, down from AED 12.5 billion a year earlier.