iPhone | iPad
Android
Huawei
KT APPDOWNLOAD
NBAD launches $750 million Tier 1 bond
Owned 70 per cent by the government of Abu Dhabi, NBAD had set final guidance at 5.25 per cent.
Dubai - National Bank of Abu Dhabi, or NBAD, has launched a $750 million non-call five-year perpetual Tier 1 bond, which is set to price later on Wednesday, a document from lead managers said.
Owned 70 per cent by the government of Abu Dhabi, NBAD had set final guidance at 5.25 per cent, the document showed, at the tighter end of its previous guidance of 5.375 plus/minus 0.125 per cent.
Initial price guidance was given at around 5.375 per cent earlier in the day. The bond issue is rated six notches lower than the lender’s rating at Baa3/BBB- by Moody’s and Standard and Poor’s respectively. Citigroup, HSBC, Morgan Stanley, Societe Generale and NBAD’s own investment banking arm are arrangers of the bond transaction.
More news from Banking and Finance
Islamic finance is used towards contributing to environmental, social and humanitarian projects, in line with the spirit of Islam.
Banking and Finance9 months ago
Originally mandated to raise $200 million, the syndication facility was oversubscribed more than 75%.
Banking and Finance9 months ago
The net profit surged despite an increase in net impairment provisions, which increased to Dh127.8 million compared to Dh81.1 million for the previous year
Banking and Finance9 months ago
The bank said its first-half operating profit of Dh1.6 billion is a 4.6 per cent increase compared to the same 2020 period “as a result of increased operating income and reduced operating expense.”
Banking and Finance10 months ago
Contactless transactions isn’t new, but usage soared quickly due to safety concerns over the Covid-19 pandemic
Banking and Finance10 months ago