Etihad Airways plans to issue a debut US dollar-denominated benchmark sukuk and will meet investors over the coming days to determine its size, maturity or interest rate, sources told Reuters on Monday.
Investors said the planned Islamic bond, known as a sukuk, could be as large as $1 billion, although one banker involved in the transaction said Etihad has given no specific indication of the size, maturity or timing of the Islamic bond sale.
HSBC, JP Morgan, National Bank of Abu Dhabi, Abu Dhabi Islamic Bank, Dubai Islamic Bank and First Gulf Bank are the deal underwriters, according to an investor presentation dated Nov. 3 which was seen by Reuters.
Etihad Airways, owned by the Government of Abu Dhabi, did not immediately respond to a request for comment on what would be its first Islamic bond targeted at international investors.
The airline, whose credit is rated A by Fitch, reported total revenues of about $9 billion in 2015, according to the presentation. At the end of last year it had 121 aircraft and it plans to take delivery of a further 188 by 2026, it added.
Etihad Airways Partners, a funding vehicle for the Abu Dhabi-based carrier and airlines in which it has equity stakes, has issued two bonds since September

Etihad could raise $1 bln in planned sukuk debut

At the end of last year Etihad Airways had 121 aircraft and plans to take delivery of a further 188 by 2026. (Image courtesy: Etihad Airways)
Reuters, Dubai
Monday 07 November 2016
Last Update: Wednesday, 20 May 2020 KSA 09:49 - GMT 06:49
DAY | WEEK |
-
20902 Views Coronavirus: Dubai temporarily postpones Pfizer vaccine campaign amid global shortage
-
9747 Views Saudi Arabia’s PIF to invest 3 trillion riyals over next 10 years: Crown Prince
-
3111 Views Saudi Arabia’s King Salman issues several new royal decrees
-
1792 Views Coronavirus: Dubai’s new restrictions disappoint hospitals; entertainers struggle on
-
1154 Views US will help Saudi Arabia defend against attacks on its territory: State Department
-
749 Views In numbers: Saudi Arabia’s PIF lists 6 goals for next 5 years
-
20902 Views Coronavirus: Dubai temporarily postpones Pfizer vaccine campaign amid global shortage
-
19224 Views Coronavirus: Number of new UAE COVID-19 cases reaches record high
-
16813 Views Airstrikes pound Iran-backed militias south of Iraq’s Baghdad: Reports
-
10886 Views Coronavirus: Dubai orders hospitals to cancel surgeries amid surge in COVID-19 cases
-
8209 Views Coronavirus: Dubai suspends live entertainment permits as COVID-19 cases surge
-
7682 Views Coronavirus: Dubai's latest COVID-19 rules for weddings, restaurants, gyms, concerts
SHOW MORE