First Abu Dhabi Bank P.J.S.C.

24 November 2025

FAB successfully issues a USD 1 billion Additional Tier 1 instrument at a market leading yield and record orderbook

First Abu Dhabi Bank (FAB), the UAE's global bank and one of the world's largest and safest ‎financial ‎institutions, has successfully issued a USD 1 billion Additional Tier 1 (AT1) perpetual non-call six-year instrument at a fixed rate of 5.875%. The issuance further strengthens FAB's capital base going into 2026 and supports the bank's long-term capital strategy.

Pricing was set at 5.875%, more than 50bps tighter than the initial range of 6.375% - 6.500%. This represents the lowest yield for a CEEMEA conventional USD AT1 issuance since May 2021, demonstrating FAB's credit strength and its leadership as the UAE's global bank.

Investor demand was exceptionally strong, with a high-quality, globally diversified orderbook across Europe, MENA, US, and APAC. Orders peaked above USD 3.3bn (3.3x oversubscribed), marking the largest orderbook ever achieved by a UAE bank issuing AT1 capital, and the largest for any GCC AT1 transaction this year. 

Felix Green, Group Treasurer, First Abu Dhabi Bank, commented: "Achieving a USD 1 billion AT1 issuance at 5.875% in a period of market softness and elevated regional supply demonstrates the strength of FAB's credit and the depth of investor confidence in the bank. This record orderbook reinforces FAB's position ahead of year-end results and highlights the continued appeal of our credit to global investors. This transaction reflects excellent cross-team collaboration across Group Treasury, Investor Relations and Capital Markets."

For further information, visit: www.bankfab.com