9-Oct-2009 8:47 AM

Emirates secures USD413.7 million in first-ever public bond offering backed by US Ex-Im Bank

Emirates announced (08-Oct-2009) it has raised USD413.7 million from its inaugural US bond offering guaranteed by the US Export Import Bank, related to a loan facility secured for three new B777-300ERs. The bonds carry a fixed rate coupon of 3.46% p/a and are due on 21-Aug-2021. Goldman Sachs and Calyon Securites acted as joint bookrunners and joint structuring agents. [more]

Emirates: “Emirates is constantly in search of innovative structures and alternative sources of financing for our aircraft acquisition program. This structure will go a long way in bridging the funding gap which is evidently present in these difficult market conditions," Brian Jeffery, Senior VP Corporate Treasury. Source: Bloomberg, 08-Oct-2009.