{"id":105320,"date":"2025-07-08T00:00:00","date_gmt":"2025-07-08T00:00:00","guid":{"rendered":"https:\/\/enterpriseam.com\/uae\/rakbank-raises-usd-300-mn-via-at1-issuance\/"},"modified":"2025-07-08T00:00:00","modified_gmt":"2025-07-08T00:00:00","slug":"rakbank-raises-usd-300-mn-via-at1-issuance","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/uae\/2025\/07\/08\/rakbank-raises-usd-300-mn-via-at1-issuance\/","title":{"rendered":"Rakbank raises USD 300 mn via AT1 issuance"},"content":{"rendered":"

Rakbank<\/strong> closes int\u2019l AT1 debt sale: <\/strong>ADX-listed and state-owned National Bank of Ras Al Khaimah (Rakbank) raised USD 300 mn through its debut additional tier one (AT1) capital issuance, according to a press release<\/a>. Strong investor demand allowed the bank to tighten the note\u2019s initial pricing by 37.5 bps, signaling solid investor confidence in its credit profile and outlook. <\/p>\n

About the bond:<\/strong> The perpetual notes, which are expected to qualify as part of its regulatory capital base, carry a 6.625% coupon and a six-year non-call period. The lender is rated BBB+ with a stable outlook<\/a> by Fitch Ratings. The advisors on the issuance have yet to be made public. <\/p>\n

S<\/strong>OUND SMART- <\/strong>AT1 bonds are a common way for banks to raise core tier-one capital without diluting shareholders by issuing new equity. Additional tier one certificates (or \"AT1 certificates\") are a type of subordinated debt, meaning they rank below other types of bank debt in the event of liquidation. This makes them riskier than senior debt, but still gives them priority over equity holders. AT1 certificates are \u201cperpetual,\u201d having no fixed maturity date. They pay interest similarly to bonds, but can often be converted into equity under certain conditions, which is why they are often referred to as CoCos, short for \u201ccontingent convertibles,\u201d in the industry.<\/p>\n

Proceeds will be used to shore up its capital buffers<\/strong>, support its lending activity, and fund the firm\u2019s growth plans. They will also help boost Rakbank\u2019s competitive position across its banking segments, the release read. <\/p>\n

Rakbank laid the groundwork for the issuance earlier this year. <\/strong>Shareholders approved regulatory capital instruments back in March<\/a>, including up to USD 500 mn in AT1 and USD 300 mn in Tier 2 securities. <\/p>\n

Many UAE banks have been improving their capital buffers:<\/strong> Our friends at Mashreq raised<\/a>USD 500 mn<\/a> in AT1 bonds last year, followed by the National Bank of Fujairah, which raised USD 275 mn in AT1 bonds<\/a>, and Dubai Islamic Bank, which also raised USD 500 mn through an AT1 sukuk issuance<\/a>. This year, Emirates NBD raised<\/a> USD 1 bn in AT1 bonds and <\/p>\n

Market r<\/strong>eax<\/strong>:<\/strong> Rakbank\u2019s stock gained 2.6% to close at AED 7.2 apiece.<\/p>\n","protected":false},"excerpt":{"rendered":"

Strong investor demand allowed the bank to tighten the note\u2019s initial pricing by 37.5 bps<\/p>\n","protected":false},"author":1,"featured_media":105321,"comment_status":"","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"newspack_ads_suppress_ads":false,"newspack_popups_has_disabled_popups":false,"newspack_sponsor_sponsorship_scope":"","newspack_sponsor_native_byline_display":"inherit","newspack_sponsor_native_category_display":"inherit","newspack_sponsor_underwriter_style":"inherit","newspack_sponsor_underwriter_placement":"inherit","ep_exclude_from_search":false,"_primary_brand":0,"newspack_featured_image_position":"","newspack_post_subtitle":"","newspack_article_summary_title":"Overview:","newspack_article_summary":"","newspack_hide_updated_date":false,"newspack_show_updated_date":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[1546],"tags":[1391,68,7,1774,719],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-105320","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-debt-watch","tag-debt","tag-debt-watch","tag-enterpriseam-uae","tag-national-bank-of-ras-al-khaimah","tag-rakbank","wpautop","entry"],"acf":{"mongo_id":"7155394c-903d-4a08-9454-28e2cd4b92f0","order":"3","is_powered_by":false,"story_type":"1","photo_url":"https:\/\/ent.news\/2025\/4\/1338.jpg","photo_position":"above","homepage_title":"","full_issue_title":"Rakbank raises USD 300 mn via AT1 issuance","related_issue":[105315],"teaser":"Strong investor demand allowed the bank to tighten the note\u2019s initial pricing by 37.5 bps","voice_url":"https:\/\/s3.us-east-1.amazonaws.com\/ent.news\/audio\/2025\/7\/.5d0364f7-8d82-43bc-b75b-e3ea0aedebbd.mp3"},"yoast_head":"\nRakbank raises USD 300 mn via AT1 issuance - 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