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Insurance provides peace of mind
Insurance is purchased only when compulsory
Terms and Conditions (small print) are clear and easily accessible
Insurance jargon (language) stands in the way of fully understanding each policy
Insurance companies try their best to uphold the details of the policy without cutting corners
Reducing risk, cutting costs and profits are more important to an insurance company than the customer
Insurance companies in the region are as professional as in other more developed markets
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ADCB Issues $101 Million Ringgit Bond

ADCB Issues $101 Million Ringgit Bond

Abu Dhabi Commercial Bank priced a 310 million Malaysian ringgit ($101.35 million) bond on Thursday, its third such sale in two years, as the emirate's third-largest lender by market value seeks diversified funding means.


April 28, 2012 10:26 by

The five-year deal carries a coupon of 4.30 percent, and Standard Chartered acted as sole bookrunner, IFR Markets, a Thomson Reuters unit reported.

ADCB issued its first ringgit bond two years ago. That bond, maturing in 2015, carried a coupon of 5.2 percent.

Gulf issuers are increasingly targeting options in Malaysia to diversify funding sources away from dollar financing. National Bank of Abu Dhabi and Abu Dhabi National Energy Co have also issued in ringgit in response to high demand from Malaysian investors looking to gain international exposure in local currency.  (Reporting by Rachna Uppal; Editing by Dinesh Nair)


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