Abu Dhabi-based First Gulf Bank, the emirate's second-largest lender by market capitalization, has received more than $1 billion in orders for a planned three-year, dollar-denominated bond, a banker familiar with the deal said Wednesday.
Price guidance has been set at 275 basis points over mid-swaps, he told Zawya Dow Jones.
"The order book will probably close either tonight or tomorrow morning London time," he said. "It's seen more than $1 billion in orders."
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