First Abu Dhabi Bank collects $ 600 million from the sale of bonds

Total First Abu Dhabi Bank $600 million from the sale of unsecured priority bonds for five years and a quarter.

The bank sold the bonds at a premium of 105 basis points over the yields of US Treasury bonds, after the initial indicative price was at 130 basis points over the same benchmark bonds.

The pricing drop comes after demand topped $1.45 billion.

The list of main managers in the bond offering included Citi, Emirates NBD and Abu Dhabi First Banks, in addition to HSBC and Standard Chartered.