First Abu Dhabi Bank (FAB) placed a five-year fixed-income debt issuance at 90 basis points (bps) over US treasuries, Reuters reports, citing IFR. The issuance is worth USD 850 mn, according to Al Arabiya. The bank had tightened pricing from an earlier 120 bps on the back of strong demand, with some USD 2.1 bn in orders.

Advisors: The UAE's largest lender appointed CitiBank, HSBC, ICBC Dubai, Societe Generale, and Standard Chartered Bank as joint lead managers and bookrunners for the transaction.

This marks FAB’s second debt issuance of the year: FAB issued a five-year, USD 800 mn sukuk in mid-January at 85 bps over US treasuries, with a 4.8% yield. The shariah-compliant bonds were part of a USD 5 bn trust certificate issuance program announced last January.

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