Two heavyweight banks from the United Arab Emirates set the primary under way fo: the region in 2021, with EMIRATES NBD BANK and FIRST ABU DHABI BANK each bringing five-year senior unsecured offerings that set back to back low yield records. The former brought a US$750m conventional offering on Wednesday at 1.638%, which a banker said was the lowest yield achieved for a GCC bank on the international markets. The record lasted all of one day, with FAB going down the sukuk route on Thursday to raise US$500m at a profit rate of 1.411%.
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