Emirates launched its much-touted amortizing Sukuk last week, which is guaranteed by UK Export Finance. The US$913,026,000 Certificates due 2025 were issued by Khadrawy Limited. The deal is being distributed today. The proceeds will be used to fund the acquisition of four Airbus A380-800 aircraft, which are expected to be delivered in April, May, June and July 2015. The issuance of the Certificates, in the principal amount of US$913,026,000 with a tenor of 10 years, marks the world’s first Sukuk financing supported by UKEF and the largest ever capital markets offering in the aviation space with an Export Credit Agency
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