According to the Chief Executive of the Abu Dhabi Commercial Bank, the bank shall buy back and reissue about 1 billion dirhams ($272.3 million) in bonds due later this year in order to manage its liquidity.
The bank, has also retained Standard Chartered (SCBEF. PK - news - people) as the sole manager for these issues.
About the buy back and reissue of bonds, Ala Eraiqat, Chief Executive of Abu Dhabi Commercial Bank, said: "We retired them and renewed the bonds. The deal was struck before maturity to manage the liquidity."