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UAE’s First Gulf Bank Prices Debut 10bn Yen Bond

UAE’s First Gulf Bank Prices Debut 10bn Yen Bond

The five-year bond is part of the lender’s $1 billion Tokyo Pro-Bond Market Programme, it said in a statement.

United Arab Emirates-based First Gulf Bank (FGB) on Thursday said it sold a debut 10 billion yen ($98.2 million) bond as part of its strategy to diversify funding sources and expand into new markets.

The five-year bond carried an annual coupon of 0.863 per cent and is part of the lender’s $1 billion Tokyo Pro-Bond Market Programme, it said in a statement.

HSBC and Mizuho International arranged the transaction on behalf of FGB.

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