FAB makes sterling swoop as investors rush for EM exposure

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By Ross Lancaster
13 Feb 2020

First Abu Dhabi Bank capped a productive week for both itself and GCC issuers on Wednesday as it sold a £450m three year bond to sterling investors who were raring to diversify their holdings.

Aa3/AA-/AA- rated FAB represented a rare opportunity for sterling accounts to add Gulf financial institution exposure to their portfolios. The trade came in the same week that the UAE bank sold an A$350m ($235m) five year in the Kangaroo market.

“FAB is ...

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