Arab Today, arab today emirates set to close 913m sukuk
Last Updated : GMT 20:38:58
Arab Today, arab today
Arab Today, arab today

World’s first aircraft financing

Emirates set to close $913m Sukuk

Arab Today, arab today

Arab Today, arab today Emirates set to close $913m Sukuk

Emirates Airbus A380-800 aircraft
Dubai - Arab Today

Emirates is pleased to announce the successful pricing of US$913,026,000 Certificates due 2025 (the “Certificates”) issued by Khadrawy Limited and with the benefit of a guarantee by Her Britannic Majesty’s Secretary of State acting by the Export Credits Guarantee Department of the UK Government (currently operating as UK Export Finance) (“ECGD” or “UKEF”) (the “ECGD Guarantee”).
The proceeds from the issuance of the Certificates will be used to fund the acquisition of four Airbus A380-800 aircraft, which are expected to be delivered in April, May, June and July 2015. The aircraft will be leased to and operated by Emirates.
The issuance of the Certificates, in the principal amount of US$913,026,000 with a tenor of 10 years, marks the world’s first Sukuk financing supported by UKEF and the largest ever capital markets offering in the aviation space with an Export Credit Agency guarantee. The transaction also represents the first time that a Sukuk has been used to pre-fund the acquisition of aircraft and the first ever Sukuk financing for A380 aircraft.
“Emirates has always taken a diversified risk approach to our aircraft financing. Together with our bank partners and ECAs (UKEF, Coface and Euler Hermes), we continually look for solid and innovative opportunities in the global market to finance our growing aircraft fleet, and we are very pleased with the tremendous response to this landmark transaction,” said Nirmal Govindadas, Emirates Senior VP, Corporate Treasury.  
Following a focused marketing effort commencing on March 16th 2015,  the Certificates, to be issued pursuant to Regulation S and Rule 144A under the United States Securities Act of 1933, were priced on 25 March 2015 at a profit rate of 2.471% (90 basis points over the interpolated mid swap rate). The Certificates saw strong demand from global investors, attracting orders exceeding US$3.2 billion and recording an oversubscription of 3.6 times.
The deal attracted interest from a diverse group of conventional and Islamic investors. The Certificates were allocated to over 45 global institutional investors, with approximately 39% of the Certificates distributed to the Middle East and Asia, 32% to Europe and 29% to the United States. By investor type, approximately 47% were distributed to fund managers, 38% to banks and 15% to insurance companies and pension funds.
Mr Govindadas added: “The strong and diversified investor demand for the offering is a testament to investor confidence in the strength of the Emirates franchise.”
The Certificates are expected to be issued on 31 March 2015 and admitted to listing and trading on the regulated market of the London Stock Exchange and on NASDAQ Dubai.
Citigroup Global Markets Limited, HSBC Bank plc, J.P. Morgan Securities plc and National Bank of Abu Dhabi P.J.S.C. acted as Joint Structuring Agents and Joint Lead Managers; Abu Dhabi Islamic Bank P.J.S.C., Dubai Islamic Bank, Emirates NBD Capital Limited and Standard Chartered Bank acted as Joint Lead Managers and NCB Capital Company acted as Co-Lead Manager.

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today emirates set to close 913m sukuk Arab Today, arab today emirates set to close 913m sukuk

 



Arab Today, arab today
Arab Today, arab today Fadi Kataya explains secrets of  Nancy Ajram's newlook
Arab Today, arab today Messi visit will contribute in tourism

GMT 14:04 2017 Friday ,24 February

Messi visit will contribute in tourism
Arab Today, arab today Expresses Algerian history by woody figures

GMT 13:26 2017 Friday ,24 February

Expresses Algerian history by woody figures
Arab Today, arab today Mental conflict endures

GMT 07:36 2017 Friday ,24 February

Mental conflict endures

GMT 18:15 2017 Sunday ,19 February

Official accuses militias of challenging companies

GMT 06:51 2017 Saturday ,18 February

Blames government for economic crisis

GMT 06:35 2017 Saturday ,18 February

MP calls for re-operating closed companies

GMT 13:35 2017 Friday ,17 February

Confirms Britain is biggest investor in Egypt

GMT 15:55 2017 Thursday ,16 February

Egyptian foods completely unobserved nor healthy

GMT 11:18 2017 Wednesday ,15 February

Reveals plan to get out of financial crisis

GMT 12:33 2017 Tuesday ,14 February

Yemeni accuses militias of challenging oil
View News in Arabic - Business: أخبار الاقتصاد
Arab Today, arab today
Arab Today, arab today
Arab Today, arab today Reading therapy relieves mental disorders

GMT 15:39 2017 Friday ,24 February

Reading therapy relieves mental disorders
Arab Today, arab today UK appoints 1st Scotland Yard chief in 188 years

GMT 05:14 2017 Thursday ,23 February

UK appoints 1st Scotland Yard chief in 188 years
Arab Today, arab today Ex-yoga missionary unleashes rage

GMT 12:16 2017 Thursday ,23 February

Ex-yoga missionary unleashes rage
Arab Today, arab today Pluto's unruly moons

GMT 06:31 2015 Thursday ,04 June

Pluto's unruly moons
Arab Today, arab today Tesla back into red but revenue grows

GMT 07:27 2017 Thursday ,23 February

Tesla back into red but revenue grows
Arab Today, arab today Nissan enhances sales in most markets

GMT 14:08 2017 Monday ,20 February

Nissan enhances sales in most markets
Arab Today, arab today Wafaa Amer is happy for Sherihan’s return

GMT 07:36 2017 Wednesday ,22 February

Wafaa Amer is happy for Sherihan’s return
Arab Today, arab today Milan laughs while Rome cries

GMT 10:28 2017 Wednesday ,22 February

Milan laughs while Rome cries

GMT 05:19 2017 Tuesday ,21 February

Salma Rashid happy for 'A Whisper of Love'

GMT 12:35 2017 Tuesday ,21 February

63-Year-Old Woman Delivers Baby

GMT 22:42 2017 Thursday ,23 February

Nasima Gamei revives heritage in jewelries

GMT 15:53 2017 Tuesday ,21 February

Small ponds have outsized impact

GMT 20:33 2017 Friday ,17 February

To release new antiques collection

GMT 07:51 2017 Wednesday ,22 February

Mom's immune system accepts babies

GMT 09:59 2017 Monday ,20 February

Tourism shows signs of recovery

GMT 13:12 2015 Saturday ,09 May

Sheikh Sultan opens Sharjah Centre

GMT 20:02 2017 Tuesday ,21 February

Nohan Seyam designs beautiful accessories
Arab Today, arab today
Arab Today, arab today
 
 Arab Today Facebook,arab today facebook  Arab Today Twitter,arab today twitter Arab Today Rss,arab today rss  Arab Today Youtube,arab today youtube  Arab Today Youtube,arab today youtube
arabstoday arabstoday arabstoday arabstoday
arabstoday arabstoday arabstoday
arabstoday
بناية النخيل - رأس النبع _ خلف السفارة الفرنسية _بيروت - لبنان
arabstoday, Arabstoday, Arabstoday