New Issue: Abu Dhabi’s Etihad Airways prices $600 million five-year sukuk

By Rebecca Melvin

New York, Oct. 28 – Abu Dhabi’s Etihad Airways – via Unity 1 Sukuk Ltd. – priced $600 million of five-year Islamic bonds, or sukuk (//A) at par to yield 2.394%, according to a market source on Wednesday.

The bookrunners for the sukuk were Abu Dhabi Islamic Bank, Dubai Islamic Bank, Emirates NBD Capital. First Abu Dhabi Bank, HSBC, Standard Chartered Bank and Abu Dhabi Commercial Bank.

The proceeds will be allocated to finance and/or refinance new or existing projects in line with the company’s transition finance network.

Etihad is an airline in the United Arab Emirates.

Issuer:	Unity 1 Sukuk Ltd.
Guarantor:	Etihad Airways
Description:	Notes
Amount:	$600 million
Maturity:	Nov. 3, 2025
Bookrunners:	Abu Dhabi Islamic Bank, Dubai Islamic Bank, Emirates NBD Capital. First Abu Dhabi Bank, HSBC, Standard Chartered Bank and Abu Dhabi Commercial Bank
Coupon:	2.394%
Price:	Par
Yield:	2.394%
Spread:	Mid-swaps plus 200 bps
Trade date:	Oct. 28
Settlement:	Nov. 3
Rating:	Fitch: A
Distribution:	Regulation S

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