First Abu Dhabi Bank (Fab) raised GBP 450 mn from 5.5-year senior unsecured notes, marking its third issuance this year, Zawya reports. The bank tightened pricing to UKT +75 bps from initial price thoughts of +90 bps after books peaked above GBP 825 mn at launch, eventually settling north of GBP 775 mn.

The paper, rated Aa3/AA-/AA-, carries a 4.7% yield and will be listed on the London Stock Exchange under Fab’s USD 20 bn EMTN program.

REFRESHER- The lender earlier this month raised USD750 mn via a five-year Formosa at SOFR +75 bps following another USD 750 mn five-year benchmark in January, reinforcing investor appetite for high-grade Abu Dhabi risk.

ADVISORS- Barclays, Deutsche Bank, First Abu Dhabi Bank, Standard Chartered Bank, and TD Securities served as joint lead managers and bookrunners.

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