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Etihad prices $1.5b sukuk at par

Islamic Finance1

Etihad Airways has priced at par a $1.5 billion five-year senior unsecured sukuk with a 3.86 percent profit rate, Reuters reports citing a document released by the banks leading the issue.

The unlisted Islamic bond has a spread of 210 basis points over midswaps and a Nov. 30, 2021 maturity.

HSBC, JP Morgan and National Bank of Abu Dhabi are the sukuk arrangers. They are joined by Abu Dhabi Islamic Bank, Dubai Islamic Bank and First Gulf Bank as bookrunners. (With Reuters)



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