June 4, 2020 / 9:48 AM / 2 months ago

First Abu Dhabi to redeem $750 mln perpetual bonds -filing

DUBAI, June 4 (Reuters) - First Abu Dhabi Bank intends to redeem its $750 million Additional Tier 1 (AT1) bonds on their first call date, it said in a London Stock Exchange filing on Thursday.

The bank had faced pressure to call the bonds, with bankers telling Reuters it would be cheaper not to but such a move could cause the bank reputational harm. (Reporting by Yousef Saba Editing by David Goodman )

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