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Etihad Airways begins marketing US dollar transition Sukuk

Etihad Airways begins marketing US dollar transition Sukuk
Etihad has hired HSBC and Standard Chartered as joint global coordinators

UAE - Mubasher: Etihad Airways has started marketing US dollar-denominated 'transition' Sukuk, with initial price guidance in the mid-2% area, Reuters reported.

The proceeds of transition bonds are used by companies to adopt more environmentally and sustainable operations, according to a cited document by one of the banks arranging the transaction.

Etihad Airways has hired HSBC and Standard Chartered as joint global coordinators for the deal.

The transaction is also being managed by Abu Dhabi Islamic Bank (ADIB), Dubai Islamic Bank (DIB), Emirates NBD Capital, First Abu Dhabi Bank (FAB), and Mashreq Bank.

It is noteworthy to mention that last week, Etihad Airways planned to sell the 'transition' Sukuk, as part of its objective to use more fuel-efficient planes, eliminate single-use plastics, and reduce its carbon emissions level.