Terabank issued $6.5 million of perpetual AT1 bonds to the market. This allows Terabank to increase its credit portfolio and offer customers, especially small and medium-sized businesses, which are a strategic segment of the bank, even more diverse loan products and services tailored to their needs.
The perpetual AT1 bonds were purchased by the Chairman of Terabank’s Supervisory Board, His Highness Sheikh Nahayan Mabarak Al Nahayan. With this step, he once again confirmed his stable support for the bank and its long-term development goals.
Perpetual AT1 bonds are classified as additional primary capital. By issuing it, Terabank’s capitalization level was further strengthened, creating an optimum capital structure and increasing the bank’s sustainability.
“The issuance of perpetual AT1 bonds is a transaction of special importance for Terabank. With their help, we will further expand the loan portfolio and the product line which will provde additional opportunities for our customers — both business customers and individuals,” Terabank said.
His Highness Sheikh Nahayan Mabarak Al Nahayan owns 65% of Terabank’s shares. He has been a member of the Federal Government of the United Arab Emirates since 1992 and currently holds the post of Minister of State for Tolerance. At the same time, Sheikh Nahayan Mabarak Al Nahayan heads the Dhabi Group which is the leading business group of the United Arab Emirates and operates in various directions.
