Emirates, the world’s biggest airline by international traffic, is said to be increasing an issue of five-year bonds to $1bn and cutting the yield spread offered to investors.
The Dubai-based carrier initially proposed a $500m issue at a spread of 350 basis points more than the benchmark mid-swap rate. The increased deal will be priced at 330 basis points, according to three bankers familiar with the sale who wouldn’t be identified before the issue is completed……………………………………….Full Article: Source