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ADCB To Issue $157M Swiss Franc Notes

Abu Dhabi Commercial Bank is seeking to raise about $157.3 million through a bond issue in Swiss francs.

Abu Dhabi Commercial Bank (ADCB) is seeking to raise about $157.3 million through a bond issue in Swiss francs, Reuters reports. The proposed bond sale will consist of notes due in 2015 with an expected coupon rate of 3%.

The bank has appointed Royal Bank of Scotland and UBS to manage the transaction. The Gulf lender is seeking to test the Swiss market to diversify and access cheaper funding in recent months.

Click here for the story from Reuters.

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