RAKBANK Raises USD 300 Million in Successful First AT1 Capital Issuance
RAKBANK has announced the successful completion of its inaugural Additional Tier 1 (AT1) capital securities issuance, raising USD 300 million from regional and international investors. The perpetual securities, with a no-call period of six years (PerpNC6), were priced at a 6.625% coupon rate.
The issuance saw robust demand from investors, enabling the bank to tighten the pricing by 37.5 basis points, underscoring market confidence in RAKBANK’s financial stability, strong credit profile, and long-term growth strategy.
This new capital will further enhance RAKBANK’s lending capacity, support its ongoing strategic initiatives, and solidify its position within the UAE’s competitive banking landscape. The funds will also allow the bank to expand its portfolio of innovative financial solutions for retail and corporate customers.
In a statement, RAKBANK noted that the successful issuance aligns with its ongoing efforts to strengthen its capital base and underscores its commitment to delivering long-term value to stakeholders while maintaining a strong capital adequacy ratio.
