NBAD raised US$1.5bn in three months

The National Bank of Abu Dhabi, NBAD, has announced the successful placement to institutional investors of a 30-year senior unsecured Formosa Bond, for a total nominal amount of US$885 million.

The transaction follows NBAD’s inaugural US$696 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 US$1.5 billion in three months.

Commenting on the announcement, 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 in the region."