The material on this site is for financial institutions, professional investors and their professional advisers. It is for information only. Please read our Terms & Conditions, Privacy Policy and Cookies before using this site.

All material subject to strictly enforced copyright laws. © 2021 Euromoney, a part of the Euromoney Institutional Investor PLC.
Banking

Best Middle Eastern borrower: Abu Dhabi Commercial Bank

The Emirates bank has developed an international investor base through a multi-currency EMTN programme.

The world’s best borrowers in 2006

Eirvan Knox, Abu Dhabi Commercial Bank Knox, ADCB: strong interest in the bank’s debt

Abu Dhabi Commercial Bank is one of a rare breed: a Middle East borrower that understands the importance of the international capital markets. Over the past year, Abu Dhabi’s second-biggest bank has raised funds in several currencies, using different structures, as it leads the way for the region’s borrowers. The bank’s funding strategy is three-fold, according to chief executive Eirvin Knox: to diversify its investor base, to lengthen the tenors of its bonds and to keep the cost of borrowing as low as possible. For that reason the bank made the decision last year to source its funds exclusively in the international capital markets. “In the past, we focused on domestic funding sources,” says Knox, “but it’s difficult to borrow beyond six months domestically.”

Last June it made its debut in the international capital markets (the first such issue by any Abu Dhabi financial institution) when it launched a $900 million, five-year FRN.

You have reached premium content. Please log in to continue reading.

Read beyond the headlines with Euromoney

For over 50 years, our readers have looked to Euromoney to stay informed about the issues that matter in the international banking and financial markets. Find out more about our different levels of access below.

SUBSCRIBE ONLINE TODAY

Unlimited access to Euromoney.com and Asiamoney.com

Expert comment, long reads and in-depth analysis interviews with senior finance professionals

Access the results of our market-leading annual surveys across core financial services

Access the results of our annual awards, including the world-renowned Awards for Excellence

Your print copy of Euromoney magazine delivered monthly

£73.75 per month

Billed Annually

FREE 7 DAY TRIAL

Unlimited access to Euromoney.com and Asiamoney.com, including our top stories, long reads, expert analysis, and the results of our annual surveys and awards

Sign up to any of our newsletters, curated by our editors

LOGIN NOW

Already a user?

We use cookies to provide a personalized site experience.
By continuing to use & browse the site you agree to our Privacy Policy.
I agree