NEWS DESK

RAKBANK completes its inaugural Tier 2 Issuance of USD 250 Million

RAKBANK has successfully completed its first Tier 2 security issuance, raising USD 250 million, the securities were issued with a maturity of 10.25 years and a non-call period of 5.25 years (10.25NC5.25), carrying a coupon rate of 5.875%.

The issuance was met with a very strong investor demand, being oversubscribed by 4 times with peak orders received in excess of USD 1 billion. This significant demand enabled RAKBANK to tighten the pricing by 42.5 basis points, reflecting investor confidence in the bank’s financial stability and growth prospects.

PR News Desk

PR News Desk

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