{"id":112703,"date":"2026-01-30T00:00:00","date_gmt":"2026-01-30T00:00:00","guid":{"rendered":"https:\/\/enterpriseam.com\/uae\/2026\/01\/30\/fab-returns-to-debt-markets-for-second-time-this-month-with-five-year-formosa-bond\/"},"modified":"2026-01-30T00:00:00","modified_gmt":"2026-01-30T00:00:00","slug":"fab-returns-to-debt-markets-for-second-time-this-month-with-five-year-formosa-bond","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/uae\/2026\/01\/30\/fab-returns-to-debt-markets-for-second-time-this-month-with-five-year-formosa-bond\/","title":{"rendered":"FAB returns to debt markets for second time this month with five-year Formosa bond"},"content":{"rendered":"

First Abu Dhabi Bank (FAB) is marketing a USD-denominated five-yea<\/strong>r <\/strong>Formosa <\/strong>bond<\/strong>, Zawya<\/a> reports. The Regulation S notes are floating-rate, with final price guidance of 75 basis points over the secured overnight financing rate (SOFR) and an expected Aa3 rating from Moody\u2019s, based on FAB\u2019s own rating. The size of the issuance wasn\u2019t disclosed.<\/p>\n

Formosa bonds? <\/strong>They are foreign-currency bonds issued in Taiwan by offshore borrowers, typically listed on the Taipei Exchange and sold primarily to Taiwanese institutional investors. For issuers, Formosas offer access to a deep institutional base \u2014 especially insurers \u2014 often at competitive pricing and longer tenors, while diversifying funding sources.<\/p>\n

Our take: <\/strong>FAB is leaning into demand for high-grade paper. The issuance marks its second debt issuance this year, following a USD 750 mn five-year Eurobond issued in January<\/a> at a 4.299% fixed coupon. The lender has also previously tapped the Formosa market, raising USD 800 mn<\/a> through green Formosa bonds in 2024.<\/p>\n

Other UAE issuers have also issued Formosas:<\/strong><\/p>\n