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Etihad Partners debt financing deal receives top honour

Top award for Etihad Partners' debt financing deal

ABU DHABI, December 28, 2015

A $700 million landmark finance deal struck by Etihad Airways Partners (EAP) to fund expansion has been recognised by the prestigious market intelligence organisation International Financing Review (IFR) with a leading global award.

The five-year deal was judged the Emerging Europe Middle East and Africa Bond of the Year. The award will be presented at a gala dinner in London on January 27.

In September, Etihad Airways embarked on an international roadshow with lead advisor Goldman Sachs to raise equity from the market for the airline, its subsidiary Etihad Airport Services and five of its strategic airline partners – airberlin, Air Serbia, Air Seychelles, Alitalia and Jet Airways – within Etihad Airways Partners.

Through the funding vehicle Etihad Airways Partners, the group successfully raised $500 million, rising within days by a further $200 million following a surge in interest from the international finance community.

Seen as the first joint financing deal of its kind in the airline industry, it’s the second time within weeks that the ground-breaking initiative has been recognised. Etihad Airways Partners was presented with the Middle East Debt Financing Deal of the Year Award in London by UK-based publication Global Transport Finance.

James Hogan, president and chief executive officer of Etihad Airways, said: “Innovation is at the heart of everything we do across all our business operations at Etihad Airways and our partners. This latest award from International Financing Review demonstrates the confidence financial institutions have had in our successful and unique business model that truly is all about creating synergies between the businesses we have invested in.”

The EAP funding roadshows were held in Abu Dhabi, Dubai and London supported by lead advisors Goldman Sachs, UAE-based ADS Securities and Anoa Capital. The raised funds, to be split across the seven entities, are for a mixture of capital expenditure and investment in fleet, as well as for refinancing, depending on each business unit’s individual needs.

Etihad Airways’ management was credited by IFR for undertaking a highly successful road show in the run up to the deal, securing the confidence and support of investors.

Considered the most prestigious event in the global capital markets calendar, more than 1,000 of the world’s most senior and successful investment banking professionals will gather in London next month to celebrate capital markets excellence at the IFA’s annual awards. – TradeArabia News Service




Tags: Etihad | Award | finance | debt | deal | Partners | IFR |

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