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Emirates Airline launches $1 billion amortising sukuk

Emirates Airline

March 12, 2013 4:44 by

Dubai’s Emirates airline launched a $1-billion amortising Islamic bond on Tuesday, arranging banks said, at the tighter end of guidance.

The sukuk, maturing in 2023, carries an average weighted life of five years and was launched at 300 basis points over five-year midswaps. This was at the tighter end of the range released earlier.

Citigroup Inc, Standard Chartered, Abu Dhabi Commercial Bank, Abu Dhabi Islamic Bank, Dubai Islamic Bank and ENBD Capital are lead managers for the sukuk.

Pricing is due later on Tuesday.

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