Commentary & Deal Flow

Launched: 5yr: US$700m @ T+85bp - Books > US$1.45bn (excl. JLM)
Spread set at: 5yr: T+85bp - Books > US$1.5bn (excl. JLM)
IPTs: 5yr: T+115a

• Issuer: FAB Sukuk Company Limited
• Issuer LEI: 549300JEV79SSEDKS489
• Obligor: First Abu Dhabi Bank PJSC (“FAB”)
• Obligor LEI: 2138002Y3WMK6RZS8H90
• Obligor Rating: Aa3/AA-/AA- (Moody's/Fitch/S&P)
• Expected Issue Rating: Aa3/AA- (Moody's/Fitch)
• ISIN: XS3329267721
• Sukuk Structure: Wakala / Murabaha
• Format: Registered, Reg S only, Category 2 (issued under US$ 5bn Trust Certificate Issuance Programme)
• Status of the Certificates: Senior Unsecured
• Issue size: US$700m
• Tenor: 5-year
• Pricing Date: 06-May-26
• Settlement Date: 13-May-26 (T+5)
• Maturity Date: 13-May-31
• Fixed Rate Benchmark: 5-year U.S. Treasury Rate
• Profit Rate: TBD (Fixed rate, S/A,30/360)
• Listing: London Stock Exchange Main Market
• Clearing Systems: Euroclear and Clearstream, Luxembourg
• Stabilization: FCA/ICMA
• Governing Law: English law and UAE law
• Denominations: US$200,000 and integral multiples of US$1,000 in excess thereof
• Joint Lead Managers & Bookrunners: Abu Dhabi Islamic Bank, Bank ABC, Dubai Islamic Bank, First Abu Dhabi Bank, HSBC, Industrial and Commercial Bank of China, Kuwait International Bank, KFH Capital and Standard Chartered Bank
• Billing & Delivery Bank: Standard Chartered Bank (B&D)
• Timing: Books open, Today’s Business. Books subject at 12:15 UKT / 15.15 UAE / 19.15 HKT