Emirates considering bond issue for expansion and mandates banks for action

Emirates airline is believed to have selected HSBC, Morgan Stanley and Deutsche Bank to help arrange a bond sale to fund further expansion
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Thomson Reuters reported earlier this month that the airline has a $190 million loan repayment due today and had mandated banks for a bond issue. But banking sources in Dubai say that bond issue is almost certainly for further growth and expansion purposes rather than for refinancing debt.

Reuters also reported that there is an expectation that the issue will   attract strong demand in spite of the current regional upheaval.

According to Reuters the airline has total debt maturities in the first quarter of 2011 of nearly $780 million. This includes a $500 million bond repayment due on March 24.

 

 

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