Dubai: Emirates airline mandated local and international banks to arrange a global investor roadshow ahead of a possible sukuk issuance, the carrier said on Wednesday.

Emirates said it mandated Citi and Standard Chartered Bank as global coordinators and joint lead managers, alongside BNP Paribas, HSBC, J.P. Morgan, Abu Dhabi Islamic Bank, Dubai Islamic Bank, First Abu Dhabi Bank, Emirates NBD Capital, and Noor Bank as joint lead managers.

The roadshow to meet fixed income investors will commence on March 8.

The airline said a sukuk (Islamic bond) issue “may follow subject to market conditions.”

Proceeds from the issuance will be used for general corporate purposes.

Emirates did not disclose the size of the possible sukuk, but said it will be of benchmark size, which normally means that it exceeds $500 million.

During its roadshow, Emirates will meet investors from the Middle East, Asia, and Europe, Reuters reported.

The Dubai-based airline said it continually looks for financing opportunities in global markets.

Emirates has tapped the debt capital markets with four issuances since 2011 raising over $3.65 billion, over 50 per cent of which has been from sukuk. Since 2010, Emirates has fully repaid six bonds, including sukuk, totally Dh10.4 billion.

Emirates also uses operating leases, commercial financing, European export credit agencies, and the United States Export-Import Bank-backed financing as other sources of financing.

The carrier’s most recent aircraft order was for 36 Airbus A380s worth $16 billion, and was made in late January. Delivery of the aircraft will begin in 2020.