Email Print Minimize font Reset font size Enlarge font

News Article

24 August 2010

ADCB Issues MYR Bonds for 750 Million

Abu Dhabi, 24 August 2010: Abu Dhabi Commercial Bank PJSC ("ADCB") has closed its maiden bond issue in Malaysia. The books opened and closed yesterday. Based on the very strong level of investor demand, the trade was upsized to MYR 750 Mio from the initial launch size of MYR 500 Mio.

The bonds are rated AAA by RAM Ratings, the highest long term financial institution ratings available from the independent rating agency based in Malaysia.

Mr. Kevin Taylor, Group Treasurer, ADCB, stated ADCB is delighted by the strong demand and confidence Malaysian investors have placed in ADCB which has been reflected in the trades size being increased. The nexus between the 2 countries is reflected in the institutional confidence in each country for reciprocal risk.

Mr. Taylor further commented that The bonds priced significantly tighter than ADCBs comparable USD benchmark bonds currently trading in the market which is a very positive result for an issue of this size. Spreads for Middle East issuers have contracted considerably since early 2010, particularly in Asia, and this would be a good sign for global markets issuers as and when they start targeting global markets for debt funding.

  • Contact Us
  • ATMs / Branches

Call - 600 50 2030 (Within UAE)

+971 2 6210090 (Outside UAE)

Write to Us

I want to: