First Abu Dhabi Bank has raised US$800m from a five-year floating-rate green Formosa bond at SOFR plus 105bp.

The Reg S senior unsecured notes are rated Aa3, in line with the issuer rating of Aa3/AA–/AA–.

Credit Agricole Taipei branch and Standard Chartered Bank (Taiwan) were lead managers.

The deal saw strong support from non-Taiwanese investors, with 31% allocated to Asian investors outside of Taiwan and 10% to other offshore investors. The deal is dual-listed in Taipei and London.

Net proceeds will be used to finance or refinance eligible green projects in line with the issuer's sustainable finance framework.

Source: IFR