DUBAI: Etihad Airways’ planned five-year Islamic bond issue will be at least $500 million and priced in the low-to-mid 200 basis points above midswaps, according to initial price guidance.
HSBC, JP Morgan and National Bank of Abu Dhabi are the arrangers. They are joined by Abu Dhabi Islamic Bank, Dubai Islamic Bank and First Gulf Bank as bookrunners.
Order books for the sukuk issue, the first by Etihad, will close by Tuesday or Wednesday at the latest, and the bond is expected to price this week, the document compiled by the arranging banks said.
Etihad Airways is rated A by Fitch.
