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ADCB issues $1bn bond
- United Arab Emirates: Sunday, October 04 - 2009 at 09:44
Abu Dhabi's, Abu Dhabi Commercial Bank (ADCB), the emirate's second-largest lender by total assets, is to issue $1bn of bonds under its updated and amended $7.5bn global medium term note programme, Kuna has reported. "The issue will consist of bonds at a fixed coupon rate of 4.75% per annum, representing 262.5 bps over US Treasuries, which will mature in October 2014," ADCB's CEO Ala'a Eraiqat said. The transaction is the first ever global offering by any GCC bank.
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StaffSunday, October 04 - 2009 at 09:44 UAE local time (GMT+4)
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