Dubai's Emirates sets final price guidance for dollar sukuk at 4.6 to 4.75pc

DUBAI: Emirates, the Dubai-based airline, has set the final price guidance for its planned US dollar-denominated sukuk at 4.6 to 4.75 percent, with the notes expected to price later on Thursday within that range, a document by one of the banks leading the deal showed.

The planned sukuk, or Islamic bond, has a 10-year tenor but will amortise over a five-year period. The deal is of benchmark size, which normally means upwards of $500 million.

Citi and Standard Chartered are joint global coordinators on the issue, with those banks and Abu Dhabi Islamic Bank, BNP Paribas, Dubai Islamic Bank, Emirates NBD Capital, First Abu Dhabi Bank, HSBC, JP Morgan and Noor Bank hired as joint bookrunners.