Oversubscribed US$700 million Etihad Airways and Partner Airlines' Bond Shows Market Demand
Abu Dhabi - ADS Securities, one of the joint book-runners, with Goldman Sachs International and Anoa Capital, has confirmed that the Etihad Airways Platform Financing bond raised US$700million.
Philippe Ghanem, CEO and Vice-Chairman of ADS Securities, who was very happy with the markets' response, he commented: "The bond issue was well received by investors which was demonstrated by the level of oversubscription. Getting this depth of interest and enthusiasm for an issuance, with such an innovative and unique structure, shows there is strong demand in the market for this type of investment opportunity. This should be seen as a positive step, encouraging more corporate issuers to come to the market."
ADS Securities Chairman, Mahmood Ebraheem Al Mahmood, was very happy with the outcome of the issuance and the overall result for Abu Dhabi: "We, and our partners, have shown that international investors have a real appetite for Abu Dhabi and Abu Dhabi investments. The success of this transaction highlights our structuring capability and ability to tailor innovative solutions for clients."
The US$500 million debut bond was issued on Tuesday 15th September with a rate of 6.875 per cent, with a follow-on US$200 million bond issued on Wednesday 16th September at the same rate.
Matteo Legler, Chief Operating Officer, Head of Global Markets, Wealth Management and Asset Management at ADS Securities, added: "Working with Etihad and its equity partners we were confident we would get a lot of interest from a very large investor base , but the level of the response from all regions exceeded our expectations. The successful launch of this issue should encourage even more corporates from our region to come to the bond market to fill their financing needs."
A private financial services company, ADS Securities is headquartered in Abu Dhabi and has developed a global reputation for providing high quality trading, investment banking and wealth management services. The firm is regulated by the Central Bank of the UAE. For more information please visit www.ads-securities.com/global-markets.
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For more information, please contact:
Stephen Davie, Communications Director, ADS Securities
Tel: +971 2 654 7663
Mob: +971 56 6852 878Email: sgd.mkt@ads-securities.com
About ADS Securities
ADS Securities is an Abu Dhabi based international financial services company, dedicated to providing the highest quality investment opportunities for institutional, private and retail clients. It offers unique online trading, global market, investment banking and wealth management services. Established in 2011 ADS Securities is part of the ADS Holding group and in a short period of time has established itself as a leading forex, bullion and online trading firm. It is regulated and licensed by the UAE Central Bank, and was established with initial capital of US$400 million. ADS Securities is headquartered in Abu Dhabi, the capital of the UAE. A regional HQ office, ADS Securities Hong Kong Limited, regulated by the SFC (AXC847), was launched in December 2013. ADS Securities Singapore Pte was established in Singapore in 2011, and provides customer support across the region. In the UK ADS Securities London Limited is authorised and regulated by the FCA (577453), and is a wholly owned subsidiary of ADS Securities' parent company. For more information please go to www.ads-securities.com
© Press Release 2015
