Clifford Chance

Clifford Chance advises on US$650 million First Gulf Bank Notes Issuance

Clifford Chance's Dubai Office has advised the joint lead managers on the update by First Gulf Bank PJSC (FGB) of its US$3.5 billion Euro Medium Term Note Programme (Programme) and the Issuance by FGB under the Programme of London Stock Exchange-listed US$650 million 2.682%. Notes due 2017 (Issuance).

The Issuance was around four times oversubscribed. Clifford Chance also advised the arranger and dealer group on a previous issuance by FGB in January 2012 of US$500 million 4.046%. Trust Certificates due 2017 under FGB's US$3.5 billion Trust Certificate Issuance Programme.

Stuart Ure, capital markets partner at Clifford Chance, commented: "We are delighted once again to partner with FGB on this successful trade, which is a clear signal from investors of the confidence in the stability and strength of the company and the GCC capital markets".

The Clifford Chance team for the update of the Programme and the Issuance was led by partner Stuart Ure with the support of associate Alekhya Prakash.

Citigroup Global Markets Limited, Deutsche Bank AG, London Branch, HSBC Bank plc, National Bank of Abu Dhabi PJSC and Standard Chartered Bank acted as the joint lead managers in respect of the Issuance.

Allen & Overy LLP acted as legal advisors to FGB.

For further information about this release please contact Magdalena Suder.