(MENAFN- Mid-East Info) 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.

About RAKBANK:

RAKBANK, also known as the National Bank of Ras Al Khaimah (P.S.C), is one of the UAE's oldest yet most dynamic banks. Since 1976, RAKBANK has been a market leader, offering a wide range of banking services across the UAE.

We're a public joint stock company based in Ras Al Khaimah, UAE, with our head office located in the RAKBANK Building on Sheikh Mohammed Bin Zayed Road. The Government of Ras Al Khaimah holds the majority of our shares, which are publicly traded on the Abu Dhabi Securities Exchange (ADX).

RAKBANK stands out for its innovation and unwavering commitment to delivering awesome customer experiences. Our transformative digital journey aims to be a 'digital bank with a human touch,' accompanying you during key moments.

With 21 branches and advanced Digital Banking solutions, we offer a wide range of Personal, Wholesale, and Business Banking services. Through our Islamic Banking unit, RAKislamic, we provide Sharia-compliant services to make your banking experience seamless, whether you visit us in person or online.

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