Arab Banking Corporation (B.S.C.) issues US$300 million 5 year Floating Rate Deposit Note

Barclays and BNP Paribas acted as Joint Lead Managers/Book Runners of this issue.

The Note witnessed a broad investor demand and after a strong response to its credit from an investor roadshow that visited Asia and Europe, Arab Banking Corporation returned to the international capital markets with its second US dollar five-year floating-rate deposit note issue under a US$2.5bn issuance programme.

Whilst ABC is enjoying strong liquidity and is not in need of funding, it decided to proceed with the transaction against the backdrop of heightened market volatility and despite concerns over the Near East. This was due to the positive reaction from investors who acknowledged the improving credit story following the recent upgrade by S&P to BBB+ and the positive outlook by Fitch and the desire to continue to diversity its sources of funding.

Diversification was indeed successfully achieved with the majority raised from Europe and Asia.
Following the release of price guidance a comfortably oversubscribed transaction was built, with pricing at US$L+50bps.

Under the EMTDN Programme ABC can, in future, raise funds at any time from the market either through another issuance or on a bilateral basis through reverse enquiries via the 12 prestigious dealer banks appointed for that purpose.

ABC's management would like to take this opportunity to thank all the investors who participated or have shown an interest in this most successful deal.