Emirates Airlines plans dollar-denominated Sukuk

By Rebecca Melvin

New York, Jan. 23 –The United Arab Emirates' Emirates Airlines plans to offer a benchmark dollar-denominated Sukuk, or Islamic bond, which was being shopped in the market, according to market sources.

The bond may be as large as $1 billion.

Banks involved in the deal include HSBC, Standard Chartered, Citigroup, BNP Paribas, Emirates NBD, Dubai Islamic Bank, Abu Dhabi Islamic Bank and Noor Bank.

Emirates is an airline based in Dubai.

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