First Abu Dhabi launches five-year Kangaroo transaction

On 11 February, First Abu Dhabi Bank (First Abu Dhabi) (AA-/Aa3/AA-) launched a new five-year, senior-unsecured, Kangaroo transaction, offered in either or both fixed and floating-rate formats. The forthcoming deal is being marketed at 115 basis points area over swap benchmarks. Pricing is expected on the day of launch, according to ANZ, First Abu Dhabi and Nomura.