DUBAI: Etihad Airways has priced at par a $1.5 billion five-year senior unsecured sukuk with a 3.86 percent profit rate, according to a document released by the banks leading the issue and seen by Reuters.
The unlisted Islamic bond has a spread of 210 basis points over midswaps and a Nov. 30, 2021 maturity.
HSBC, JP Morgan and National Bank of Abu Dhabi are the sukuk arrangers. They are joined by Abu Dhabi Islamic Bank, Dubai Islamic Bank and First Gulf Bank as bookrunners.
Etihad Airways is rated A by Fitch.
