NBAD raised USD 1.5bn in three months in Formosa bond market

National Bank of Abu Dhabi P.J.S.C. (NBAD) announces the successful placement to institutional investors of a 30-year senior unsecured Formosa bond, for a total nominal amount of USD 885 million.

The transaction follows NBAD’s inaugural USD696 million public Formosa bond in October last year, the first 30 year Formosa bond from the MENA region, which brings the total amount raised by the bank in Taiwan to more than USD 1.5 billion in three months.

These issuances are part of the bank’s ongoing strategy to ensure diversification of funding by accessing new investors in new geographies.

Stephen Jordan, NBAD’s Group Treasurer,
said, “NBAD is very pleased with the successful outcome of this transaction, which has again highlighted the confidence from the Taiwanese investor base in the merger of FGB and NBAD. This transaction also highlights the efforts that NBAD has put into establishing a global debt platform, and re-enforces our position as the most innovative issuer from the Region.”

HSBC Bank acted as lead manager and book runner, Standard Chartered Bank and Crédit Agricole as managers and book runners, with Bank SinoPac as co-manager. Société Générale and NBAD acted as joint structuring agents.

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