Commodities

Emirates airline signs $750 million sales-backed loan

Credit: REUTERS/ABDEL HADI RAMAHI

Emirates has signed a $750 million five-year, dual-tranche financing facility with Emirates NBD, Dubai's biggest lender, the bank said in a statement on Tuesday.

DUBAI, Oct 5 (Reuters) - Emirates has signed a $750 million five-year, dual-tranche financing facility with Emirates NBD, Dubai's biggest lender, the bank said in a statement on Tuesday.

"The landmark transaction remains competitively priced and marks a first for Emirates Airline as a sales-receivable backed financing structure, aimed to diversify their liquidity pool," Emirates NBD said.

(Reporting by Yousef Saba; editing by Jason Neely)

((Yousef.Saba@thomsonreuters.com; +971562166204; https://twitter.com/YousefSaba))

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