By Marisa Wong
Los Angeles, Feb. 24 – First Abu Dhabi Bank PJSC priced $110 million of additional 1.411% trust certificates due Jan. 14, 2026 (expected: Aa3//AA-) at 100.685 through FAB Sukuk Co. Ltd., according to a term sheet.
The trust certificates will be consolidated and form a single series with the existing $500 million five-year trust certificates issued on Jan. 14.
Citigroup Global Markets Ltd., First Abu Dhabi Bank PJSC and Standard Chartered Bank are the managers for the second tranche.
The series 4 certificates will be issued under the bank’s $3.5 billion trust certificate issuance program.
The securities are non-callable.
First Abu Dhabi Bank is a lender operating in the United Arab Emirates.
| Issuer: | FAB Sukuk Co. Ltd. (for First Abu Dhabi Bank PJSC)
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| Description: | Trust certificates, series 4, add-on
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| Amount: | $110 million
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| Maturity: | Jan. 14, 2026
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| Managers: | Citigroup Global Markets Ltd., First Abu Dhabi Bank PJSC and Standard Chartered Bank
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| Distribution rate: | 1.411%
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| Price: | 100.685
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| Call option: | Non-callable
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| Issue date: | Feb. 24
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| Listing: | London Stock Exchange
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| Ratings: | Moody’s Cyprus: Aa3
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| Fitch: AA-
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| Total amount: | $610 million, including $500 million issued at par on Jan. 14
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