UAE-based First Gulf Bank's $500 million (Dh1.8 billion) three-year bonds were priced at 250 basis points over mid-swaps, representing a coupon of four per cent, an executive of the bank said.
The bonds were issued under FGB's recently updated $3.5bn European Medium Term Note Programme.
FGB, the second-largest bank by market capitalisation in Abu Dhabi, completed the sale of bonds last week to investors in Asia and Europe. The bonds are for general corporate purposes and to have a diversified funding mix, he said.
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