Emirates picks banks for roadshows
Dubai, January 23, 2013
Emirates, Dubai's flagship carrier, has picked six banks to arrange investor meetings ahead of a possible bond issue, a document from arranging banks said on Wednesday.
The airline chose Citigroup, Deutsche Bank, Emirates NBD, JP Morgan Chase, Morgan Stanley and Standard Chartered to arrange the roadshows, the document said.
A bond could follow the meetings, which will be held in London and Singapore on Jan. 28, Boston and Hong Kong on January 29 and New York on January 30, subject to market conditions, it added.
The airline will hope to follow the success of the government of Dubai, which priced a $1.25 billion two-tranche offering on Tuesday following significant investor demand.
Last September, Emirates Chief Executive Tim Clark said the carrier would issue bonds as part of a broader financing strategy for its aircraft orders worth billions of dollars.
Emirates last issued a bond in June 2011, with the $1 billion instrument currently trading to yield around 3 percent , but since then it has also sold Enhanced Equipment Trust Certificates (EETCs), which are similar to a form of secured debt financing, like mortgages.-Reuters
More Travel, Tourism & Hospitality Stories
- Air Arabia opens new sales office in Bahrain
- Lufthansa aims high with 'First Class' service
- Emirates launches new service to Boston
- Dubai Airports 'powers down' for green initiative
- City Seasons opens 5-star hotel in Abu Dhabi
- Etihad alert on fog
- Bahrain F1 visa procedures issued
- Oman Air appoints GSA for Turkey
- $40bn investment in Gulf airports likely
- Celebrity chef to open restaurant at InterContinental
- FRHI appoints wellness vice president
- Dubai, Abu Dhabi hotels top performance
- Malaysia Airlines jet presumed crashed, 239 onboard
- BA rolls out special Mother's Day fares
- Etihad says majority of stranded passengers sent home
- Malaysian jet search team spots 'column of smoke'
- Turkish Airlines revenue surges 27pc in 2013
- GCC airlines defend female cabin crew policies
- Malaysian flight 'presumed crashed' over China
- Qatar Airways likely to buy more A380s
- Malaysia Airlines jet goes missing over China
- Etihad in move to clear flights backlog
- Tourism industry emerges from downturn
- Airbus orders more frequent A380 checks
- Dubai Mall stand offers air safety tips
- Elaf Group plans new hotel in Makkah
- UPDATE: Abu Dhabi airport starts operation
- Qatar Airways mulls options on 3 extra A380s
- RAK features 9 travel firms at ITB Berlin
- Etihad names Patrick Vieira guest ambassador