Abu Dhabi-listed First Gulf Bank plans to issue a five-year, benchmark-sized dollar-denominated bond imminently, arranging banks said on Monday.
Early price talk was seen at 220 basis points over midswaps but market sources expect this to tighten at launch, although this will depend on demand for the deal.
FGB's existing 2017 maturity - a $500 million Islamic bond, or sukuk, - was yielding about 2.7 percent on
Monday, according to Thomson Reuters data, at a spread of about 207.6 basis points.
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