Emirates Airlines taps banks, set roadshow for 10-year dollar Sukuk

By Rebecca Melvin

New York, March 7 –The United Arab Emirates' Emirates Airlines announced that it has chosen banks and scheduled fixed-income investor meetings for an offering of 10-year dollar-denominated Sukuk, or Islamic bonds, according to a syndicate source.

Citigroup and Standard Chartered Bank are global coordinators and joint lead managers of the Regulation S benchmark, along with Abu Dhabi Islamic Bank, BNP Paribas, Dubai Islamic Bank, Emirates NBD Capital, First Abu Dhabi Bank, HSBC, JPMorgan and Noor Bank as joint lead managers.

Meetings are slated to begin on Thursday in Asia, Europe and the Middle East, with a 10-year legal life, five-year weighted average life bond to follow, subject to market conditions.

Emirates is an airline based in Dubai.

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