UPDATE 2-First Abu Dhabi Bank sells 450 mln sterling bonds - Reuters:
First Abu Dhabi Bank (FAB) sold on Wednesday 450 million pounds ($584 million) of three-year sterling-denominated bonds at 98 basis points (bps) over UK gilts, according to an investment note seen by Reuters.
The debt sale has garnered around 1.25 billion pounds in demand, the note said.
FAB hired Barclays, First Abu Dhabi Bank, HSBC and Nomura to lead the deal.
The bank tightened the spreads after it began marketing the bonds at 115-120 bps over UK gilts earlier on Wednesday. The issuance is under FAB’s $15 billion euro medium-term note programme.
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