News Column

FGB concludes five year bond on new Tokyo Pro-Bond Market

June 26, 2014

FGB, one of the leading banks in the UAE, has concluded a five year JPY 10 billion bond as part of the $1 billion Tokyo Pro-Bond Market programme registered by the bank on June 11. The transaction took place on June 23 2014, and the bonds were priced with a coupon rate of 0.863 per cent p.a.

HSBC Bank plc and Mizuho International plc led the transaction, which will be listed on June 27th 2014 under the USD 1 billion programme listed on the Tokyo Stock Exchange and registered under the First Gulf Bank P.J.S.C. $3,500,000,000 Euro Medium Term Note (EMTN) programme.

AndrÉ Sayegh, CEO of FGB, said: "This debut issuance on the new Tokyo Pro-Bond Market is a key part of FGB's ongoing strategy to diversify our sources of funding and expand into new markets. It complements our inaugural 'Kangaroo' five year bond issuance earlier this year perfectly and has been positively received by investors."

He continued: "We've already made in-roads into Asia Pacific with our established, dedicated FGB Singapore branch and the conclusion of a Negotiable Certificate of Deposit (NCD) programme which allows the bank to raise funds across a diversified base when required and to reach out to a wider range of institutional investors. The new Tokyo bond issuance increases our visibility in the APAC market and builds on our profile within the region."

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Source: CPI Financial

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