gulfnews : NBAD issues 10 billion yen Samurai bond

The National Bank of Abu Dhabi, has issued its inaugural yen-denominated samurai bond, the first ever by a Middle Eastern financial institution.

NBAD's issuance of the 15-year, 10 billion Japanese yen (Dh54.7 million) Samurai bond is part of the bank's strategy in diversifying its funding sources and to extend its liability profile.

'We are very pleased to again be the market leader from the GCC in terms of our issuance platform and see this as a major breakthrough. This shows the commitment we have to our well publicised diversification strategy,' said Stephen Jordan, the Senior Vice President and the General Manager of Liquidity Management & Interest Rates Product Group at NBAD's Financial Markets Division.

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