FAB joins Middle East sterling spree

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By Francesca Young
16 Apr 2019

First Abu Dhabi Bank has printed two sterling private placements in the last week — the most recent Tuesday morning’s £120m note through JP Morgan — adding to a flurry of sterling trades from the Middle East.

The bank also printed a £220m deal through HSBC last Thursday. Both mature in April 2020 and were sold at 22bp over three month sterling Libor.

“They swap back to a great level in dollars which is what we do with everything,” said a source close to ...

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