Dubai's Emirates Airline Set to Raise $600 Million in Sukuk Sale
- Carrier sells 10-year amortizing Islamic bonds at 4.5% rate
- Emirates joins a rush of borrowers from the Gulf region
A passenger aircraft operated by Emirates Airlines passes rooftops of residential houses as it prepares to land in London.
Photographer: Chris Ratcliffe/BloombergThis article is for subscribers only.
Emirates is set to raise $600 million from the sale of Islamic bonds as the world’s biggest airline by international passengers joins a rush of borrowers from the Gulf region.
The Dubai government-owned carrier sold 10-year amortizing sukuk at a profit rate of 4.5 percent, the company said in an emailed statement. The yield was cut from an initial guidance, which was in the high 4 percent range, according to a person familiar with the deal who asked not to be identified because the information is private. Emirates will use the money for general corporate purposes.