Flydubai sets initial price thoughts for sukuk

Flydubai sets initial price thoughts for sukuk

Pricing guidance for the five-year sukuk is in the area of 225 basis points over midswaps, the document showed.



Budget carrier Dubai Aviation Corp, known as flydubai, has set initial price thoughts on its planned dollar-denominated Islamic bond issue which could price today, a document from lead managers said on Tuesday.

Pricing guidance for the five-year sukuk is in the area of 225 basis points over midswaps, the document showed.

The carrier, fully-owned by the Dubai government, will conclude a series of investor meetings, which were due to be held in Singapore, the Middle East and Europe, on Tuesday.

Credit Agricole, Dubai Islamic Bank, Emirates NBD, HSBC, National Bank of Abu Dhabi, Noor Bank and Standard Chartered are the arrangers for the sukuk sale.


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