Emirates, the world’s biggest airline by international traffic, plans to sell dollar bonds after meeting fixed-income investors in Asia, the Middle East and Europe, according to three people with knowledge of the sale.
The Dubai-based airline hired Deutsche Bank AG (DBK), Emirates NBD PJSC (EMIRATES), HSBC Holdings Plc (HSBA) and Morgan Stanley (MS) as joint lead managers for the sale, the people said, declining to be identified because details of the transaction are private. The investor meetings will start in Hong Kong on May 23 and end in Zurich on May 30, the people said. Meetings will also be held in Singapore, Abu Dhabi, Dubai, London and Geneva, they said.
Emirates delayed a bond sale after borrowing costs rose, Chairman Sheikh Ahmed said May 10 as the government-controlled carrier reported a 43 percent increase in profit to a record $1.6 billion for the year ended March 31. The Middle East’s biggest carrier is building the largest Airbus SAS A380 superjumbo fleet as it seeks to establish Dubai as an inter- continental travel hub and win passengers from Air France-KLM Group and Deutsche Lufthansa AG.
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