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FAB expected to sell $344m in 5-year bonds

FAB expected to sell $344m in 5-year bonds
The initial price guidance was set at 110-115 basis points over UK gilts
FAB
NBAD
-1.87% 17.80 -0.34

Abu Dhabi – Mubasher: First Abu Dhabi Bank (FAB) is forecast to sell $344.38 million in five-year bonds, according to a document from one of the banks arranging the deal as cited by Reuters.

FAB, HSBC, Standard Chartered, and TD Securities are arranging the transaction, which would close on Tuesday.

The document showed that the initial price guidance was set at 110-115 basis points over UK gilts.

It is noteworthy to mention that during the first half (H1) of 2021, the bank's net profits attributable to the shareholders increased to AED 5.353 billion, up 11% from AED 4.819 billion in the same half of 2020.