Etihad Airways Planning Sale of USD-Denominated Transition Sukuk

Etihad Airways (Etihad), which is wholly owned by the Abu Dhabi Government of the United Arab Emirates, is planning on selling USD-denominated ‘transition’ Sukuk, according to a document issued by one of the banks leading the deal.

The planned issuance of Sukuk, which will depend on market conditions, are set to mature in five years, and are part of a USD 3 billion Sukuk programme that is anticipated to be rated ‘A’ by Fitch Ratings, local media reported.

According to the document, a series of fixed income investor calls commenced on the 22nd of October 2020, with the Sukuk transaction size likely to be at least USD 1 billion. Furthermore, Etihad has invited...