ADCB plans five-year floating rate bonds

ABU DHABI — Abu Dhabi Commercial Bank (ADCB) is contemplating an inaugural issue of five-year floating rate bonds to be marketed to international institutional investors.

By A Staff Reporter

Published: Sun 12 Jun 2005, 10:20 AM

Last updated: Thu 2 Apr 2015, 4:44 PM

Subject to all necessary approvals, this inaugural issue would be launched within weeks. HSBC Bank plc and BNP Paribas have been mandated as co-managers of this issue.

Meanwhile, Abu Dhabi Commercial Bank is holding an extraordinary general meeting today to get its consent on a board of directors proposal to launch a Euro Medium Term Note Programme for the general corporate purposes.

Under this programme, the bank would be able to issue bonds in tranches up to an aggregate value of $2.5 billion. The bonds would be listed on the Luxembourg Stock Exchange. HSBC Bank Plc has been mandated by ADCB as arrangers of the programme.

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