UPDATE 1-Emirates airline picks banks for fixed income roadshows

Wed Jan 23, 2013 8:47am EST

* Emirates airline picks banks for fixed income meetings - leads

* Meetings scheduled for Asia, London, U.S. between Jan. 28-30

* Bond to follow, subject to market conditions

* Govt-owned airline's roadshow comes after Dubai issues $1.25 bln in bonds

DUBAI, Jan 23 (Reuters) - Emirates, Dubai's flagship carrier, has picked six banks to arrange investor meetings ahead of a possible bond issue, a document from arranging banks said on Wednesday.

The airline chose Citigroup, Deutsche Bank, Emirates NBD, JP Morgan Chase, Morgan Stanley and Standard Chartered to arrange the roadshows, the document said.

A bond could follow the meetings, which will be held in London and Singapore on Jan. 28, Boston and Hong Kong on Jan. 29 and New York on Jan. 30, subject to market conditions, it added.

The airline will hope to follow the success of the government of Dubai, which priced a $1.25 billion two-tranche offering on Tuesday following significant investor demand.

Last September, Emirates Chief Executive Tim Clark said the carrier would issue bonds as part of a broader financing strategy for its aircraft orders worth billions of dollars.

Emirates last issued a bond in June 2011, with the $1 billion instrument currently trading to yield around 3 percent , but since then it has also sold Enhanced Equipment Trust Certificates (EETCs), which are similar to a form of secured debt financing, like mortgages.

A couple walks along the rough surf during sunset at Oahu's North Shore, December 26, 2013. REUTERS/Kevin Lamarque

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