Tuesday, May 31, 2011
DUBAI (Zawya Dow Jones)--Initial price guidance for Emirates Airline's planned U.S. dollar-denominated bond issue has been set at 337.5 basis points over five-year mid swaps, a banker close to the deal said Tuesday.
The five-year bond issue is expected to be of benchmark size, the banker said.
Deutsche Bank, Emirates NBD, HSBC Holdings Plc, and Morgan Stanley are all involved in the deal.
The notes are likely to be listed on the London Stock Exchange and the net proceeds of the issue will be used for general corporate purposes, according to Emirates' preliminary prospectus for the planned bond sale.
Emirates Airline is the Middle East's largest carrier and has plans to have a total of 235 aircraft by 2017, adding 87 aircraft to its current fleet.
-By Nikhil Lohade, Dow Jones Newswires; +9714 446-1694; nikhil.lohade@dowjones.com
Copyright (c) 2011 Dow Jones & Co.
(END) Dow Jones Newswires
31-05-11 1359GMT
