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ADCB sets price guidance for bond sale
- United Arab Emirates: Tuesday, February 26 - 2013 at 03:22
Abu Dhabi Commercial Bank (ADCB) has released early price guidance for a two-part bond offering, with final pricing expected this week, Reuters has reported. The bank has picked itself, Barclays, ING , JP Morgan Chase, National Bank of Abu Dhabi and RBS as joint bookrunners on the deal. The guidance for a benchmark-sized five-year senior unsecured bond was issued at 180 basis points over midswaps, while early price talk for a benchmark 10-year subordinated Tier 2 issue was released in the high 200 bps over midswaps area.
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