Some holders of Etihad Airways-linked $1.2bln bonds brace for default- sources | ZAWYA MENA Edition

Some holders of Etihad Airways-linked $1.2bln bonds brace for default- sources | ZAWYA MENA Edition:

"Some holders of $1.2 billion in bonds linked to Etihad Airways are seeking to appoint legal advisers to evaluate their options with respect to a potential default of the notes, sources familiar with the matter said.

Etihad issued the bonds in 2015 and 2016 through an Amsterdam-based special purpose vehicle, called Equity Alliance Partners (EAP).

The proceeds were used to enter into separate debt obligations with Etihad and airlines partially owned by the Abu Dhabi carrier at the time, including Alitalia and Air Berlin, both of which are now insolvent."



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