FGB plans $1bn debt sale on Japanese bond market

June 11, 2014 12:19 am

The UAE’s third-largest lender by assets, First Gulf Bank (FGB) has registered to sell as much as $1bn of securities on the Tokyo Pro-Bond Market as it seeks funds to expand, Bloomberg has reported. The program takes effect June 11 and will be valid for a year, according to a statement on the Tokyo Stock Exchange’s website. First Gulf Bank also raised ¥4.7bn ($46m) in September from the sale of three-year notes that pay a coupon of 1%.