Dubai-based airline raises $1bn in 10-year funding deal
Dubai’s Emirates airline has issued a $1bn amortising bond with a tenor of 10 years that pays 300 basis points above the five-year mid-swap rate.
The deal was the second bond issue from the airline since the start of the year and was arranged by the UK’s Standard Chartered, the US’ Citigroup, and the local Abu Dhabi Commercial Bank, Abu Dhabi Islamic Bank, Dubai Islamic Bank and Emirates NBD.
At the end of January, the company issued a $750m 12-year amortising bond that pays 300 basis points above the seven-year mid-swap rate.
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