Emirati Jiu-Jitsu stars win 23 medals, athletes grab 11 medals, and People of Determination excel with 14 medals
Abu Dhabi Commercial Bank , the United Arab Emirates’ third largest lender, has raised $500 million with debut green bonds, a bank document showed, ending an issuance drought in the region.
The bonds priced at 115 basis points over US Treasuries on Wednesday, tightening from initial price guidance of about 140bps over the same benchmark after drawing more than $1.8 billion in orders for the deal, according to the document from one of the banks on the deal showed and two sources.
One of the sources, who has direct knowledge of the deal, said there was “strong momentum on the trade which opens up capital markets for other GCC issuers,” referring to the six-country Gulf Cooperation Council.
“It was very well diversified distribution relative to trades earlier in the year with a very strong following from European accounts,” the source said, adding that orders reached $1 billion in 90 minutes.
Barclays and ING were joint sustainability structuring advisers. ADCB, BofA Securities , JPMorgan, Mizuho and SMBC Nikko joined them as joint lead managers and book runners.
Proceeds from the debt sale will finance or refinance green loans eligible under ADBC’s green bond framework. — Reuters
Emirati Jiu-Jitsu stars win 23 medals, athletes grab 11 medals, and People of Determination excel with 14 medals
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