ADCB takes advantage of slimming ME spreads

abu dhabi px230
By Virginia Furness
11 Sep 2014

Abu Dhabi Commercial Bank returned to the dollar market on Tuesday and made a 50bp saving at the five year part of its curve. Middle Eastern spreads have come flying in over the past year and bankers said that the bond came at the tightest possible level.

“The Middle Eastern space has had a very good run over the course of the year,” said a syndicate banker on the trade. “There’s an element of flight to safety and of tightening across all markets, but a lot of these Middle East banks are very ...

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