Allocation of the privately placed bond is expected to start on Wednesday, say banks leading the transaction
Etihad Airways has set its planned five-year sukuk at $1.5 billion, the upper end of an expected range of $1.25 billion to $1.5 billion, banks leading the transaction said on Wednesday.
The UAE airline set the final spread for its debut Islamic debt issuance at 210 basis points over midswaps, after one bank involved said on Tuesday that final pricing was seen at around 215 basis points over midswaps.
Allocation of the privately placed bond is expected to start on Wednesday and the bond will price immediately afterwards.
The sukuk is being arranged by HSBC, JP Morgan and National Bank of Abu Dhabi. The bookrunners are Abu Dhabi Islamic Bank, Dubai Islamic Bank and First Gulf Bank.For all the latest banking and finance news from the UAE and Gulf countries, follow us on Twitter and Linkedin, like us on Facebook and subscribe to our YouTube page, which is updated daily.