DUBAI: Abu Dhabi-listed First Gulf Bank plans to issue a five-year, benchmark-sized dollar-denominated bond imminently, according to arranging banks.
Citi, National Bank of Abu Dhabi, HSBC, Standard Chartered and Deutsche Bank are arranging the deal. Early price talk was seen at 220 basis points over midswaps.
Benchmark-sized is understood to mean at least $500 million.
Reuters reported last week that the lender, the second biggest by market value in the United Arab Emirates, was eyeing a new bond sale. (Reuters)
