UAE lender ADCB sets early price talk for 2-part bond sale
Monday, 25 February 2013
DUBAI: Abu Dhabi Commercial Bank has released early price guidance for a two-part bond offering, arranging banks said on Monday, with final pricing expected this week.
Guidance for a benchmark-sized 5-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.
Benchmark-sized is typically understood to mean at least $500 million.
The bank has picked itself, Barclays Plc, ING , JP Morgan Chase & Co, National Bank of Abu Dhabi and RBS as joint bookrunners on the deal. (Reuters)
Guidance for a benchmark-sized 5-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.
Benchmark-sized is typically understood to mean at least $500 million.
The bank has picked itself, Barclays Plc, ING , JP Morgan Chase & Co, National Bank of Abu Dhabi and RBS as joint bookrunners on the deal. (Reuters)
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