ADCB to kick off bond roadshows
Abu Dhabi, February 16, 2013
Abu Dhabi Commercial Bank (ADCB), the UAE's third-largest lender by market value, plans to begin investor meetings ahead of a potential dollar-denominated bond on February 18, said the arranging banks.
The UAE lender said earlier this week it had mandated lead arrangers for the issue, which would be benchmark-sized, understood to mean at least $500 million.
Roadshows, which begin in Geneva, Switzerland, will also take place in London and Hong Kong, before concluding in Singapore on February 25, according to the roadshow schedule seen by Reuters.
The deal, which is subject to market conditions, may include senior and subordinated tranches, the lender said.
ADCB has picked itself, Barclays, JP Morgan Chase , ING, National Bank of Abu Dhabi and RBS as lead managers and bookrunners for the possible deal.-Reuters
Tags: Abu Dhabi Commercial Bank |
More Finance & Capital Market Stories
- Gulf stocks surge as Fed tapering adds fuel to fire
- SABB launches graduates programme
- NBAD names key official for Hong Kong
- Commercial Bank of Dubai obtains $450m loan
- EFG Hermes names group co-chief
- Islamic bond issuance in GCC picking up
- Kuwait budget surplus likely to hit $42.4bn
- Bahrain banking sector on road to recovery
- GCC banks' outlook stable, says report
- GBSA panel names new chairperson