"National Bank of Abu Dhabi (NBAD), Abu Dhabi’s biggest lender by assets said yesterday it has issued $465 million senior unsecured convertible bonds, convertible into ordinary shares of NBAD. The issue was more than three times oversubscribed.
“The offering, due in 2018, was increased from an initial amount of $350 million following strong demand from investors during the book-building process,” NBAD said in a statement.
The bank said the bonds will be issued on or around June 5, 2013 at par and will carry a coupon of 1.00 per cent per annum, payable semi-annually in arrear commencing on September 12, 2013."
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