FAB launches new AT1 months after call

AdobeStock_FirstAbuDhabiBank_575x375_21Sept2020
By Mariam Meskin
21 Sep 2020

First Abu Dhabi Bank, the highest rated lender in the Middle East, has mandated bookrunners to lead a perpetual non-call six year additional tier one (AT1) capital issue.

Citigroup, First Abu Dhabi Bank, HSBC and Standard Chartered will lead the Reg S dollar benchmark. FAB and Standard Chartered are structuring agents.

In June, the issuer called an existing $750m AT1 deal, the coupon of which was set to drop in its favour. That deal was ...

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