UNB closes 5-year bond issue of $500m

Dubai: Union National Bank (UNB) said it has closed a 5 year bond issue for $500 million (Dh1.8 billion) with a coupon of 4 per cent and at issue price of 99.6 per cent.

UNB mandated Australia and New Zealand Banking Group, Commerz Bank, First Abu Dhabi Bank, HSBC Middle East, Mizuho International and Standard Chartered Bank for the bond issue under its Euro medium term note program which is listed on Luxembourg Stock Exchange.

UNB shares, which are listed on the Abu Dhabi Securities Exchange, were flat at Dh3.98.