ADCB crunches to tight guidance for senior and sub
Abu Dhabi Commercial Bank has tightened price guidance twice on its five year senior and 10 year subordinated tier two bonds. Pricing is expected later on Tuesday. Final price guidance for the five year senior deal now stands at 165bp-170bp over mid swaps and for the 10 year subordinated deal at 265bp-270bp, having been tightened on Tuesday morning.
Initial price thoughts had been released on Monday at 180bp over mid-swaps for the senior and high 200s over for the subordinated. Those levels were revised to 175bp area over mid-swaps for the senior and 275bp over for the subordinated later on Monday.
ADCB, JP Morgan, ING, Royal
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