flydubai/Bloomberg
by Kudakwashe MuzoriwaDubai-based flydubai has secured $500 million to refinance the budget airline’s debut five-year Islamic bond, which is set to mature on 26 November 2019.
Ghaith Al Ghaith, the Chief Executive Officer of flydubai, said, “We are pleased to see the healthy appetite in the market that has enabled us to successfully raise the five-year Term Loan for USD 500 million to refinance our first Sukuk issued in 2014.”
The low-cost airline stated that Emirates NBD Capital and Noor Bank acted as global coordinators while Emirates NBD Bank and Noor Bank were appointed joint underwriters on the deal. Emirates NBD Capital and Noor Bank were joined by Dubai Islamic Bank to be the ‘mandated lead arrangers and bookrunners on the financing facility.
Speaking at the Dubai Airshow 2019, Sheikh Ahmed bin Saeed, the Chairman of flydubai, said that the airline expects significant impact in the second half of its fiscal year if the global ban on the Boeing 737 Max continues.
MOST READ
CPI Financial was established in Dubai in 1999 to meet the needs of an ever-expanding financial community, offering a comprehensive portfolio of market-leading products and services tailor-made for the banking and financial services sectors.
Loading More post
