Emirates closes $600m sukuk to be listed in Dubai, Ireland

Eleanor Steed
By Eleanor Steed March 19, 2018 16:20

Emirates closes $600m sukuk to be listed in Dubai, Ireland

Emirates has closed a $600 million ten-year sukuk. The sukuk will be repaid in an amortising format over 10 years with legal maturity in March 2028.

Proceeds from the issuance will be used for general corporate purposes including aircraft financing and working capital.

Nirmal Govindadas, Emirates senior vice president, Corporate Treasury said: “We are pleased with the level and quality of interest in this sukuk issuance. Emirates continues to take a diversified approach to our long-term financing strategy and today’s issuance confirms the confidence of international and regional investors in our strong track record as well as resilient and profitable business model.”

The sukuk certificates are expected to be issued on March 22 and admitted into listing and trading on the regulated market of the Irish Stock Exchange and on NASDAQ Dubai.

Eleanor Steed
By Eleanor Steed March 19, 2018 16:20