RAKBANK Successfully Raised $250 million in 1st Tier 2 Issuance

RAKBANK has successfully completed its inaugural Tier 2 security issuance, marking a significant milestone for the bank. The bank raised USD 250 million through this issuance, highlighting its strong position in the financial market.

The issued securities have a maturity of 10.25 years and a non-call period of 5.25 years (10.25NC5.25), offering investors a stable long-term investment opportunity. They also carry an attractive coupon rate of 5.875%, making them a competitive investment in the current market environment.

Strong Investor Demand and Oversubscription

The issuance saw overwhelming investor interest, being oversubscribed by 4 times, with peak orders exceeding $ 1 billion. This significant demand allowed RAKBANK to tighten the pricing by 42.5 basis points, reflecting strong investor confidence in the bank’s financial stability and growth prospects.