x Abu Dhabi, UAETuesday 25 July 2017

Finance House to issue Dh100m bond

The Abu Dhabi-based lender is to raise Dh100m through debt issuances before the end of the year, the company's chairman says.

Finance House, the Abu Dhabi-based lender, is to raise Dh100m through debt issuances before the end of the year, the company's chairman says.

The bond, which comes after a Dh157m issuance last month, is part of the bank's strategy to raise up to Dh500m in long-term funding.

Mohammed al Qubaisi, the chairman of Finance House, said the bank would shift its sources of funding to longer-dated loans so it could place "more focus on cash flows and our bread-and-butter business", and avoid pursuing what he called "pie-in-the-sky types of ambitions".

ghunter@thenational.ae