Course offers training in English language, interviewing skills, resume writing, and job search tips
business3 hours ago
First Abu Dhabi Bank (FAB) has achieved the lowest-ever yield and coupon on any public GBP-denominated bond issued in CEEMEA, having priced a GBP 400 million short five-year bond priced at G+98bps.
The transaction marks FAB’s return to the GBP market following its debut GBP bond issuance in 2020 and represents the first GBP-denominated bond issuance out of CEEMEA in 2021. The offering was welcomed by investors – the orderbook peaked at circa 2.125x oversubscription rate. The transaction attracted strong demand especially from high-quality real money accounts based in the United Kingdom, enabling FAB to further diversify its existing investor base. This was attested to by the robust diversification with 93 per cent of the transaction allocated internationally.
The offering priced at G+98bps, inside FAB’s secondary GBP curve, thereby allowing the bank to effectively re-price its curve. In addition, on a swapped basis, this transaction allowed FAB to raise funding inside its USD curve. More specifically, the transaction priced at an all-in yield of 0.969 per cent and a coupon of 0.875 per cent which marks the lowest-ever yield and coupon on any public GBP-denominated bond issued in CEEMEA.
Rula AlQadi, MD and head of Group Funding at FAB, said: “FAB’s issuance in the GBP market highlights our strong and unique credit story which has enabled us to successfully tap different debt markets over the last few weeks. We are pleased to achieve a strong reception from investors, allowing us to achieve the lowest-ever yield and coupon for a public GBP transaction in CEEMEA, while also further diversifying our investor base. GBP-denominated bond issuances out of CEEMEA have remained scarce, and as such FAB's recent issuance represents another milestone in developing this market for regional issuers being the only CEEMEA bank issuer to tap this pool of liquidity.”
business@khaleejtimes.com
Course offers training in English language, interviewing skills, resume writing, and job search tips
business3 hours ago
Beloved to tourists as well as residents, these spots not only fulfil your food and shopping cravings, but also provide experiences in nature
uae3 hours ago
It means that residents are within a quarter-hour walk or bike ride from everything they need to a lead a good life
world3 hours ago
The Minister of Youth shared some exercises — from walking to fitness and balance training — integral to his reconditioning programme
uae4 hours ago
Pezeshkian's remarks came as the Islamic republic marked the anniversary of the September 2022 death of 22-year-old Iranian Kurd Mahsa Amini in police custody
world4 hours ago
Agents opened fire on a gunman who was spotted with an assault-style rifle hiding in bushes at one of Trump's Florida golf courses
americas4 hours ago
The superfans stumping for Kamala Harris are not formally affiliated with the artist who unites them
world5 hours ago
From choosing secure connections to avoiding risky pop-ups, here's how you can protect your privacy
uae5 hours ago