First Abu Dhabi prints first post-merger Kangaroo

By Frank Jackman
11 Feb 2020

First Abu Dhabi Bank (FAB) issued its first post-merger Kangaroo bond on Tuesday, raising A$350m ($234.9m) — becoming the first Middle Eastern bank to tap the market in two years.

The bank mandated ANZ, FAB and Nomura to lead a fixed and/or floating rate deal on Monday, and ultimately printed a floating rate bond that is set to mature in February 2025.

The floater was issued with a spread of 110bp over the three month BBSW, ...

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