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Emirates airline to issue $913 million sukuk due 2025 at mid-swaps plus 100 bps area
By Christine Van Dusen
Atlanta, March 23 – The United Arab Emirates-based Emirates set initial talk in the mid-swaps plus 100 basis points area for an offering of about $913 million Islamic bonds due March 31, 2025, a market source said.
Abu Dhabi Islamic Bank, Citigroup, Dubai Islamic Bank, ENBD Capital, HSBC, JPMorgan, National Bank of Abu Dhabi and Standard Chartered Bank are the bookrunners for the Rule 144A and Regulation S deal.
The proceeds will be used to pay for delivery of superjumbo jets.
Pricing is expected to take place on Wednesday.
Emirates is an airline based in Dubai.
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