DUBAI: Abu Dhabi Commercial Bank has set final terms for a $750 million five-year bond, a document from lead arrangers said, as demand among international investors for Gulf paper remains strong.
The transaction will price at the tight end of revised guidance of 140-145 basis points over midswaps, according to the document.
At the time of revised guidance being issued, investors had placed orders worth more than $2.25bn for the bond. Pricing guidance had initially been earmarked as between 150 and 155 basis points over midswaps.
Demand for paper from Gulf issuers has been significant in the deals seen so far in 2014, helped by political and economic instability in other parts of the world such as Turkey, funnelling money to perceived safe-havens like the Gulf.
Reuters
