ADCB sells 2014's first Middle East FIG flat to curve
Abu Dhabi Commercial Bank closed the Middle East's first FIG deal of 2014 this week, pricing a $750m bond flat to its secondary curve. Bankers both off and on the deal had doubted how much international interest there would be given how tight Middle East spreads are relative to the rest of the CEEMEA market. But the final order book left no doubt about demand for the region in the face of EM uncertainty.
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