Emirates Airline, Dubai’s flagship carrier has picked four banks to arrange meetings for a prospective dollar-denominated bond issue, according to a statement issued today.
HSBC, Deutsche Bank, Emirates NBD and Morgan Stanley have been mandated as joint lead managers and joint book runners.
Road shows will take in Asia, the Middle East and Europe, with Hong Kong on May 23, according to the document.
‘Emirates can confirm the appointment of the JLMs and our intention to go on a roads how, with a view to launching a bond if market conditions, including pricing, are favourable,’ the company told Reuters in an emailed statement.
Unlisted Emirates has been reviewing various fundraising options for a while, and it was announced in February the company was considering a potential bond issue.
Civil unrest in the wider region has hampered Gulf bond issuance this year, although many companies are considering the options.
Earlier this month, Emirates airline chairman Sheikh Ahmed bin Saeed al Maktoum said he would wait for pricing to improve before issuing a bond.
