First Abu Dhabi Bank prices $1bln AT1 at 5.875%

First Abu Dhabi Bank (FAB) has priced a $1 billion perpetual non-call six-year Additional Tier 1 (AT1) bond at 5.875%, after launching with initial price thoughts (IPTs) in the 6.375%-6.50% range.

Final books closed in excess of $2.35 billion, excluding JLM interest, after peaking at over $3.3 billion earlier in the day.

The AT1s are issued under English law and listed on the London Stock Exchange.

(Writing by Brinda Darasha; editing by Seban Scaria)  
brinda.darasha@lseg.com

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