Bond issue will be at least $500m and split between five and 10-year tranches
Abu Dhabi Commercial Bank (ADCB) is planning a new two-tranche bond issue totalling at least $500m and split between a five-year and a 10-year issue, according to bankers.
The deal will be arranged by ADCB, the National Bank of Abu Dhabi, the UK’s Royal Bank of Scotland and Barclays, the US’ JP Morgan, and Amsterdam-based ING.
Proceeds from the deal will be used to enhance ADCB’s tier 2 capital, which is used to measure the strength of a bank’s financial position.
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