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HomeWorldFirst Abu Dhabi Bank starts selling 5-year debt

First Abu Dhabi Bank starts selling 5-year debt

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The UAE’s largest lender First Abu Dhabi Bank has given initial price guidance at 120 basis points over U.S. Treasuries for its 5-year benchmark-sized debt issuance, fixed income news service IFR reported on Wednesday.

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The UAE lender has hired Citi, First Abu Dhabi Bank, HSBC, ICBC Dubai, Societe Generale and Standard Chartered Bank as joint lead managers and bookrunners for the debt sale, IFR said.

The debt is expected to be priced later in the day, IFR added.

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