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DUBAI / Reuters
Abu Dhabi Commercial Bank (ADCB) has raised $315 million in a triple tranche ‘Kangaroo’ bond issuance, the bank said in a statement.
Kangaroo bonds are issued by non-Australian issuers in the Australian market and are denominated in
Australian dollars.
Australia and New Zealand Banking Group Ltd (ANZ) and Nomura International Plc acted as joint lead managers for the offering. The notes are
expected to be rated A by S&P and A+ by Fitch, the bank said.
The Abu Dhabi-based bank is considering a five-year fixed or floating rate bond, and a 10-year fixed rate senior unsecured transaction. The bonds could be launched in the near future, subject to market conditions, according to the statement.