First Abu Dhabi Bank has priced a $1 billion perpetual non-call six-year Additional Tier 1 bond at 5.875%, after launching with initial price thoughts in the 6.375%–6.50% range. Demand grew steadily throughout the day, and interest strengthened as orders accumulated across global investor groups.
Order Books Peak at $3.3 Billion During Strong Demand
Final books closed in excess of $2.35 billion, excluding JLM interest, although they had earlier peaked at more than $3.3 billion. The strong order book reflects sustained appetite for regional bank capital instruments, especially as investors continue to seek higher-yielding opportunities in resilient markets. Moreover, the tightening from IPTs to final pricing highlights improving sentiment toward GCC issuers.
AT1 Notes Listed on London Stock Exchange
The AT1 notes are issued under English law and listed on the London Stock Exchange. This listing broadens market visibility and allows global investors to access the instrument with greater ease. Additionally, the structure reinforces FAB’s strategy to diversify funding sources while maintaining access to international capital markets.
