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Thursday, 27 July 2017

Abu Dhabi Commercial Bank issues $320 mln Formosa bond -sources

Abu Dhabi Commercial Bank issues $320 mln Formosa bond -sources:

"Abu Dhabi Commercial Bank (ADCB), the emirate's second largest bank by assets, raised $320 million through the sale of a five-year Formosa bond, sources told Reuters on Thursday.

Several Gulf banks have made forays into the Formosa market in the past year or so, including ADCB. Formosa bonds are sold in Taiwan by foreign issuers and denominated in currencies other than the Taiwanese dollar.

The sale, which was settled on Wednesday, was placed with institutional investors, the sources said, with one adding that a Taiwanese bank arranged the deal, declining to name it."



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