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Abu Dhabi’s FGB sets bond guidance for 5-yr bond

November 9, 2010 2:19 by Reuters

Price guidance for the five year benchmark dollar bond issue by Abu Dhabi’s First Gulf Bank is at 250 basis points over midswaps, a source at an arranging bank said on Tuesday.

The deal is expected to price this week.

FGB hired HSBC, Citi , BNP Paribas , Deutsche Bank and National Bank of Abu Dhabi.

Gulf banks have jumped on the new issue flurry from the region in recent weeks, and Saudi British Bank and Qatar National Bank are also expected to print deals this week.

(Reporting by Rachna Uppal; Editing by Jason Benham)

Tags: Abu Dhabi's FGB bond guidance, Abu Dhabi's First Gulf Bank, FGB bond guidance, Gulf banks, Saudi British Bank