Emirates gives initial price guidance for U.S. dollar sukuk

DUBAI  - Emirates, the Dubai-based airline, has given initial price guidance for a planned U.S. dollar sukuk in the high 4 percent, a document by one of the banks leading the deal showed on Thursday.

Citi and Standard Chartered are joint global coordinators on the issue, with those banks and Abu Dhabi Islamic Bank, BNP Paribas, Dubai Islamic Bank, Emirates NBD Capital, First Abu

Dhabi Bank, HSBC, JP Morgan and Noor Bank hired as joint bookrunners. The sukuk is an amortising 10-year bond, with a five-year weighted average life. The Islamic notes are of benchmark size, which normally means upwards of $500 million, and are expected to price later on Thursday.

 

(Reporting By Davide Barbuscia; Editing by Tom Arnold) ((Tom.Arnold@thomsonreuters.com; +97144536265; Reuters Messaging: tom.arnold.thomsonreuters.com@reuters.net))