FAB issues USD 1bn AT1 at record demand

Summary by AI BETAClose X

First Abu Dhabi Bank P.J.S.C. successfully issued a USD 1 billion Additional Tier 1 instrument at a fixed rate of 5.875%, achieving a market-leading yield and a record orderbook of over USD 3.3 billion, which was 3.3 times oversubscribed. This issuance, the largest for a UAE bank in AT1 capital and the largest GCC AT1 transaction this year, strengthens FAB's capital base and demonstrates significant investor confidence in the bank's credit strength.

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