First Abu Dhabi Bank (FAB), the UAE’s largest lender, has launched $750 million in five-year senior unsecured notes under its $20 billion EMTN (Euro Medium Term Note) programme. These notes are set to list in both Taipei and London, reinforcing FAB’s strong presence in global financial markets.
Key Details:
- Launch Specifications:
- The notes are priced as Reg S SOFR FRN (Secured Overnight Financing Rate Floating Rate Notes).
- Launch spread: SOFR + 100 basis points.
- Settlement date: January 22, 2025.
- Global Collaborations:
- HSBC Bank Taiwan and Standard Chartered Bank Taiwan serve as the lead managers for this issuance.
- Recent Activities:
- Last week, FAB priced a $600 million sukuk, which was listed on the London Stock Exchange.
- This follows Emirates NBD’s senior unsecured notes launch in Taipei earlier this year.
Market Impact:
FAB’s recent activities, including these senior notes, highlight its strategy to enhance liquidity and broaden its investor base across key global markets.