Dubai – Mubasher: Emirates on Wednesday said that it has mandated a number of banks to arranging global investors roadshow to meet fixed income investors as of 8 March 2018.
The world’s largest international airline appointed Citi and Standard Chartered Bank as global coordinators and joint lead managers, in addition to Abu Dhabi Islamic Bank, BNP Paribas, Dubai Islamic Bank, Emirates NBD Capital, First Abu Dhabi Bank, HSBC, J.P. Morgan and Noor Bank joint lead managers, according to the company's statement.
Emirates said that the proceeds of the potential Islamic bond sale will be used for general corporate purposes.
The UAE-based carrier noted that the bond sale is part of a diversified approach to finance its new aircraft deliveries and business growth.
Emirates has tapped the debt capital markets with four corporate issuances since 2011, raising over AED 13.4 billion ($3.65 billion), with up to 50% of which had been in the Sukuk format.
Moreover, the company utilizes operating leases, commercial financing, and European export credit agencies and the United States Export-Import Bank backed financing as part of its well-diversified sources of liquidity.
