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UAE's ADCB plans to sell $500 million in tier 2 capital securities
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UAE's ADCB plans to sell $500 million in tier 2 capital securities
Sep 1, 2024 11:26 PM

Sept 2 (Reuters) - UAE's third largest lender Abu Dhabi

Commercial Bank has hired banks to arrange investor

meetings for the sale of U.S. dollar denominated 10.5 year

non-callable for 5.5 year tier 2 capital securities, an

arranging bank document showed on Monday.

The lender has selected Abu Dhabi Commercial Bank, Emirates

NBD Capital, First Abu Dhabi Bank, HSBC ( HSBC ), JPMorgan ( JPM ), and Mizuho as

joint bookrunners to work on the debt transaction, the document

said.

The investor calls are scheduled to start on Sept. 2 and

will be followed by a $500 million Fixed Rate Resetting Tier 2

Capital Securities issuance, subject to market conditions, the

document added.

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