Emirates narrows price guidance for UK sukuk

Dubai: Emirates, the Dubai-based airline, has narrowed price guidance for a $913 million (Dh3.4 billion) sukuk issue that will be guaranteed by Britain’s export credit agency, with pricing set to take place today, a document from lead managers showed. The transaction is now earmarked to price at 95 basis points over midswaps, plus or minus 5 bps, the document said. This is inside the guidance of the 100 bps area over the same benchmark issued on Monday.