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News Article

04 October 2009

Another First from ADCB

Abu Dhabi, 4 October 2009: Abu Dhabi Commercial Bank ("ADCB" or the "Bank"), the Emirate of Abu Dhabiís second-largest lender by total assets, is pleased to announce that it has agreed to issue US$ 1,000,000,000 of bonds under its newly updated and amended US$7.5 billion global medium term note programme. The transaction is the first ever global offering by any GCC bank.

ADCB's CEO Ala'a Eraiqat said "The issue will consist of bonds at a fixed coupon of 4.75% per cent. per annum, representing 262.5 bps over [US Treasuries], that will mature on 08October 2014 ." The issue is the outcome of a very positive response to ADCB's recent investor presentations in Hong Kong, Singapore and London, among other international financial centers.

Mr. Eraiqat added "We believe investors' positive reception was attributable to ADCBís willingness to adopt the rigorous international transparency and disclosure required by global debt capital markets. This step by ADCB will help to steer other UAE companies to adopt the same rigorous standards of transparency and disclosure standards and help to build international confidence in UAE issuers."

Mr. Eraiqat added that "The Bank is very pleased with investors' support of ADCB's bond issuance and believes such support is a reflection of global investors' perception of the strength of ADCB's credit and the prospects of the UAE banking system as a whole."

Mr Kevin Taylor, ADCB's Head of Treasury and Investments, said "The issuance is another first for ADCB after it was the first bank in Abu Dhabi to establish and issue notes from a European medium term note programme in 2005. ADCB remains committed to taking the lead in developing capital markets for local and regional banks."

Disclaimer: This communication is not an offer of securities for sale in the United States, Australia, Canada, Japan or any other jurisdiction where to do so would be unlawful. ADCB and ADCB Finance Cayman have not registered, and do not intend to register, any portion of securities in any of these jurisdictions and do not intend to conduct a public offering of securities in any of these jurisdictions. In particular, no securities of ADCB or ADCB Finance Cayman have been nor will be registered under the U.S. Securities Act of 1933, as amended (the "Securities Act"), and such securities may not be offered or sold within the United States or to, or for the account or benefit of, U.S. persons (as defined in Regulation S under the Securities Act) except pursuant to an exemption from, or in a transaction not subject to, the registration requirements of the Securities Act and in compliance with any applicable state securities laws. In the United States, any offer will be made only to qualified institutional buyers ("QIBs") in reliance on Rule 144A under the Securities Act or another available exemption from, or in a transaction not subject to, the registration requirements of the Securities Act. Outside the United States, an offer may be made to non-U.S. persons in accordance with Regulation S under the Securities Act. Prospective purchasers of any securities that may be issued under the GMTN programme are hereby notified that the sellers or issuers of any such securities may rely on the exemption from the registration requirements of the Securities Act provided by Rule 144A of the Securities Act or another available exemption from registration.

This communication is only being distributed to and is only directed at (i) persons who are outside the United Kingdom; (ii) persons within the United Kingdom who are investment professionals falling within Article 19(5) of the Financial Services and Markets Act 2000 (Financial Promotion) Order 2005 (the "Order"); and (iii) persons within the United Kingdom who are high net worth entities and other persons to whom it may lawfully be communicated, falling within Article 49(2)(a) of the Order (all such persons in (i), (ii) and (iii) above together being referred to as "relevant persons"). The securities are only available to, and any invitation, offer or agreement to subscribe, purchase or otherwise acquire such securities will be engaged in only with, relevant persons. Any person who is not a relevant person should not act or rely on this document or any of its contents.

In any EEA Member State that has implemented Directive 2003/71/EC (together with any applicable implementing measures in any Member State, the "Prospectus Directive") this communication is only addressed to and is only directed at qualified investors in that Member State within the meaning of the Prospectus Directive.

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