The National Bank of Abu Dhabi
(NBAD) has become the first Middle Eastern financial
institution to issue yen-denominated samurai bonds. But lawyers
working on the deal encountered problems around determination
of financial statements.
The groundbreaking issuance and
public offering is worth ¥10 billion (£80 million).
The bonds have a 15-year tenure to mature in 2026 and a fixed
coupon rate of 2.6 %.
A samurai bond is a yen-denominated bond issued in the
Japanese market by a non-Japanese company. The bonds will
appeal to Japanese investors because they are subject...