Commodities

Etihad Airways plans transition Islamic bonds -document

Credit: REUTERS/VASILY FEDOSENKO

Etihad Airways, wholly owned by the Abu Dhabi government, is planning to sell U.S. dollar-denominated 'transition' sukuk, or Islamic bonds, a document issued by one of the banks leading the deal showed.

DUBAI, Oct 20 (Reuters) - Etihad Airways, wholly owned by the Abu Dhabi government, is planning to sell U.S. dollar-denominated 'transition' sukuk, or Islamic bonds, a document issued by one of the banks leading the deal showed.

Proceeds of so-called transition bonds are used by companies to gradually switch to more environmentally sustainable operations.

Etihad has hired banks including HSBC, Standard Chartered, Abu Dhabi Islamic Bank, Dubai Islamic Bank, Emirates NBD Capital, First Abu Dhabi Bank and Mashreq Bank to arrange investor calls ahead of the planned five-year deal, the document showed.

(Reporting by Davide Barbuscia; editing by Jason Neely)

((Davide.Barbuscia@thomsonreuters.com; +971522604297; Reuters Messaging: davide.barbuscia.reuters.com@reuters.net))

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