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Commentary & Deal Flow

PRICED (May 11): JSC Aloqabank US$300m 5yr Sr Unsec; 7.950%

IGC European Market: Deal Flow - GeneralHYC APAC Market: Deal Flow - General

Issuer

Term

Coupon

Maturity

Size

Ranking

Type

Price

Yield

IPT-PXD

JSC Aloqabank

5yr

7.70%

18-May-31

US$300m

Sr Unsec

Fixed

99.985

7.950%

-75


Reoffer: 5yr: 7.950% / 99.985

Final Books: >US$1bn excl JLM int

Launched: 5yr: US$300m @ 7.950% - Final books > US$1bn excl JLM int
Guidance: 5yr: 8.25-8.375%
IPTs: 5yr: Mid to High 8%s


  • Issuer: Joint Stock Commercial "Aloqabank"
  • Issuer Ratings: Ba3/BB (Moody's/Fitch)
  • Expected Issue Ratings: BB (Fitch)
  • Ranking: Senior Unsecured
  • Format: 144A/Reg S
  • Size: US$300m
  • Coupon: 7.70%, Fixed, payable semi-annually in arrear
  • Tenor: 5 years
  • Settlement Date: 18-May-26 (T+5)
  • Maturity: 18-May-31
  • Reoffer: 99.985 / 7.950%
  • Listing: ISM of the London Stock Exchange
  • Governing Law: English Law
  • Use of Proceeds: The Issuer will use the proceeds received from the issue and sale of the Notes for general corporate purposes.
  • Clearing: Euroclear, Clearstream, Luxembourg and DTC
  • Denominations: US$200k x US$1k
  • Day Count: 30/360
  • Joint Lead Managers and Joint Bookrunners: Abu Dhabi Commercial Bank, Citi (B&D), First Abu Dhabi Bank, Mashreq
  • ISIN: XS3340633489 (Reg S) / US02053BAA52 (144A)
  • Common Code: 335601165 (144A) / 334063348 (Reg S)
  • Stabilisation: FCA/ICMA Stabilisation applies