First Abu Dhabi Bank (FAB), which has an Aa3 by Moody’s, and AA- by S&P and Fitch (all with a stable outlook), issued its EUR 850 million benchmark regulations long five-year green bond with a 3.1201 percent coupon.
It was priced at 70 basis points (bps) above the mid-swap rate (MS), narrowed compared to the initial price ideas in the MS+100bps region; therefore, the yield was about 3.122 percent.
Similarly, the peak in the order book was recorded at €1.9 billion and traced to the settlement value of €1.4 billion without JLM interest.
There were joint lead managers and bookrunners on the offering, including Citi, Crédit Agricole CIB, First Abu Dhabi Bank, HSBC, Industrial and Commercial Bank of China, Société Générale, and Standard Chartered Bank.
The senior unsecured bond will be a part of the 20 billion Euro Medium Term Note Programme of Fab and will be the main market listing on the London Stock Exchange.
It has a forecasted rating that is consistent with that of the issuer, with a settlement date of November 20, 2025.
The lender, the largest bank in the UAE by asset base, initiated about $750 million five-year Reg S low-carbon energy bond in September at T+65 bps.
