A USD 700m landmark finance deal struck by Etihad Airways Partners (EAP) to fund expansion has been recognised by market intelligence organisation International Financing Review (IFR) with a 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 27 January.
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 BV, the group successfully raised USD 500m, rising within days by a further USD 200m 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.
Etihad Airways began operations in 2003, and in 2014 carried 14.8 million passengers. From its Abu Dhabi base, Etihad Airways flies to or has announced plans to serve 116 passenger and cargo destinations in the Middle East, Africa, Europe, Asia, Australia and the Americas.