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Best sukuk deal:
Emirates RegS $1 billion amortizing sukuk
Lead managers: Citi, ADIB, Standard Chartered Bank
Dubai’s airline has been busy in the capital markets over the past 12 months, following a $750 million 144a/RegS amortizing bond in January 2013 with a $1 billion 10-year RegS senior unsecured sukuk in March.
It’s the amortizing bit that stands out: something that has never been attempted in a sukuk in the international markets before. At a more technical level, it is also the first ever wakala sukuk to be issued based on rights to travel and services relating to passenger routes.
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