The national airline of the United Arab Emirates, "Etihad Airways", announced the issuance of the first Sukuk for transformation and financing related to sustainability in the aviation sector in the world, with a value of $ 600 million, as part of a framework to finance the transition. ...
This step comes on the heels of the issuance of the first funding in the aviation sector linked to the United Nations sustainable development goals during the month of December of last year, which confirms the leading position of Etihad Airways in the field of sustainable financing.
The deal will support Etihad’s journey in the sustainable aviation sector by linking the terms of the sukuk to the carbon reduction targets set by Etihad Airways, which are the commitment to reduce net carbon emissions to zero by 2050, reduce 50% of net carbon emissions by 2035, and reduce 20%. Of carbon emissions from the company's passenger fleet by 2025.
Etihad Aviation Group Chief Financial Officer Adam Boukadida said: “By issuing sukuk related to sustainability, Etihad Airways seeks to reinforce its current commitment to the Carbon Offsetting and Reduction Scheme in International Aviation (CORSIA), and has also committed to reducing carbon emissions by 20%. Since 2017. '
It is worth noting that HSBC and Standard Chartered banks have been appointed as global coordinators and joint agents for sustainable structuring, while Abu Dhabi Islamic Bank, Dubai Islamic Bank, Emirates NBD Capital, First Abu Dhabi, HSBC and Standard were appointed. Chartered, as lead regulator and registrar of Bookrunners, Abu Dhabi Commercial Bank was also chosen as the joint lead regulator, and Mashreq Bank as the financial advisor.