ZAWYA: First Abu Dhabi Bank, rated Aa3 by Moody’s and AA- by S&P and Fitch (all with a stable outlook), is marketing a three-year Euro green benchmark senior unsecured issuance, with IPTs at mid-swap plus 100-105 bps area.

The issuance has an expected rating in line with the bank, with the Regulation S, Category 2 offering to be issued under FAB’s $20 billion Euro Medium Term Note Programme.

The pricing is expected today, with the final coupon rate yet to be determined.

A listing on the London Stock Exchange Main Market is expected to follow.

BBVA, First Abu Dhabi Bank, HSBC, Industrial and Commercial Bank of China, Societe Generale and Standard Chartered Bank have been mandated as joint lead managers, with Standard Chartered Bank listed as the billing and delivery bank.

The bank has said an amount at least equal to the net proceeds will be used to fund or refinance Eligible Projects in the eligible categories identified as ‘Green’ in FAB’s Sustainable Finance Framework.