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apple developer account:First Abu Dhabi Bank sells 3.6 billion Chinese yuan five-year Formosa bonds


DUBAI - First Abu Dhabi Bank <FAB.AD>, the UAE's biggest lender, has sold 3.6 billion Chinese yuan ($465.49 million) in five-year dual-listed Formosa bonds at 3.4%, it said in a statement on Tuesday. The bank increased the size from 3.25 billion yuan and said it was the biggest yuan-denominated issuance by a non-Chinese bank issuer and the biggest Chinese yuan Formosa issuance. Formosa bonds are sold in Taiwan by foreign borrowers and are denominated in currencies other than the Taiwanese dollar. The deal follows a 1.4 billion Chinese yuan Formosa issuance in June. "The deal exceeded our expectations in terms of size and reflects Asian investors' strong faith in FAB's credit fundamentals and Abu Dhabi's economic strength," Rula Al Qadi, FAB's head of group funding, said in the statement. REUTERS

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