flydubai, which is fully owned by the Dubai government, has set initial price thoughts on its planned dollar-denominated Sukuk issue which could price on Wednesday, Gulfnews reported citing a document from lead managers.
According to the document, pricing guidance for the five-year Sukuk is in the area of 225 basis points over mid-swaps.
The budget carrier will conclude a series of investor meetings, which were due to be held in Singapore, the Middle East and Europe, on Tuesday.
The airline recorded net profit of $14 million in the first half of this year, and revenue in the period was $515 million, up 17.1% on the same six months of 2013.