20-May-2011 12:39 PM

Emirates hires banks for possible USD bond issue

Emirates plans to sell USD-denominated bonds “if market conditions, including pricing, are favourable”, after the airline held meetings with fixed-income investors in Asia, the Middle East and Europe (Reuters/Bloomberg, 19-May-2011). The airline hired Deutsche Bank, Emirates NBD, HSBC and Morgan Stanley as joint lead managers for the sale. Further meeting will be held in Hong Kong, Zurich, Singapore, Abu Dhabi, Dubai, London and Geneva. Chairman Sheikh Ahmed said the airline delayed previous issues due to unfavourable rises in borrowing costs.

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