Emirates closing two bonds this month

Emirates Airline has announced that it will be closing two bonds in full this month, amounting to a total of $1.1 billion, which will be repaid from its own cash resources. The airline announced that it has repaid a bullet bond in full for the value of Dh3.673 billion ($1 billion) on its maturity date of June 8 2016. The $1 billion bullet bond was raised in 2011 to address Emirates’ working capital requirements. Emirates will also be repaying a bond totaling SGD150 million ($111 million) later this month, which was originally raised in 2006. HH Sheikh Ahmed bin Saeed