Etihad starts marketing dollar transition sukuk at around mid-2% - document

So-called transition bonds are used by companies to gradually switch to more environmentally sustainable operations

  
Zürich, Switzerland - March 26, 2016: Boeing 787 of Etihad Airways departing Zurich Airport on a sunny morning. Etihad Airways is the national airline of Abu Dhabi, United Arab Emirates. Image used for illustrative purpose.

Zürich, Switzerland - March 26, 2016: Boeing 787 of Etihad Airways departing Zurich Airport on a sunny morning. Etihad Airways is the national airline of Abu Dhabi, United Arab Emirates. Image used for illustrative purpose.

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DUBAI - Etihad Airways, wholly owned by the Abu Dhabi government, on Tuesday began marketing U.S. dollar-denominated "transition" sukuk, or Islamic bonds, a document showed.

The airline gave initial price guidance in the mid-2% area for the sukuk, according to the document from one of the banks arranging the deal, which is expected to close on Wednesday.

So-called transition bonds are used by companies to gradually switch to more environmentally sustainable operations.

(Reporting by Yousef Saba; Editing by Sam Holmes) ((Yousef.Saba@thomsonreuters.com; +971562166204))

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