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DUBAI, UNITED ARAB EMIRATES - JANUARY 04: General view of Abu Dhabi Commercial Bank logo on January 4, 2017 in Dubai, United Arab Emirates. (Photo by Tom Dulat/Getty Images)
Abu Dhabi Commercial Bank (A Positive [S&P] / A+ Stable [Fitch]) is marketing a US dollar benchmark senior five-year floating-rate Formosa bond priced at SOFR plus 105 basis points (bps).
The Reg S deal will be rated A/A+ (S&P/Fitch), in line with the issuer.
HSBC Bank (Taiwan) and Standard Chartered Bank (Taiwan) are joint managers.
The settlement date is 26 February 2025. The coupon will be paid quarterly in arrear.
Proceeds will be used for general corporate purposes.
The bond will be listed on the Taipei Exchange and Euronext Dublin.
(Writing by Brinda Darasha; editing by Seban Scaria)
