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Bahrain’s Bank ABC is pricing $400 million Reg S AT1 capital securities with initial price thoughts (IPT) at the low 8% area.
The conventional bond, which will be listed on the International Securities Market (ISM) of London Stock Exchange, was priced on Thursday, to be settled on January 23rd 2025. Optional call dates will be 23 January 2030, with a reset date of 23 July 2030, and every five years thereafter.
The bond is being issued for general corporate purposes and to strengthen the bank’s capital base.
Bank ABC, Emirates NBD Capital, First Abu Dhabi Bank, HSBC, J.P. Morgan, Kamco Invest, Mashreq and Standard Chartered Bank.
(Writing by Imogen Lillywhite; editing by Seban Scaria)
