RAKBANK has successfully completed its first Additional Tier 1 (AT1) security issuance, raising USD 300 million

Press release

Published July 7th, 2025 - 06:05 GMT

RAKBANK has successfully completed its first Additional Tier 1 (AT1) security issuance, raising USD 300 million. The perpetual securities have a no-call period of six years (PerpNC6) and carry a coupon rate of 6.625%.

The issuance was met with strong investor demand, allowing RAKBANK to tighten pricing by 37.5 basis points. This reflects investor confidence in the Bank’s financial strength and growth outlook.

The additional capital strengthens the Bank’s ability to support lending activities, invest in strategic initiatives, and reinforce its competitive position. It also enables RAKBANK to continue delivering innovative financial products and services to its customers.

Background Information

RAKBANK

RAKBANK, also known as the National Bank of Ras Al Khaimah (P.S.C) a Public Joint Stock Company, is one of the oldest and most dynamic banks in the UAE. Founded in 1976, the Bank underwent a major transformation in 2001, with a shift in focus from Corporate Banking to Personal and Business Banking.