DUBAI, March 7 (Reuters) - Emirates will meet international fixed income investors from Thursday to promote a dollar-denominated sukuk, according to a document from one of the banks arranging the sale.
The Gulf airline will meet investors in Asia, Europe and the Middle East, ending in Singapore on March 13, the document seen by Reuters on Wednesday showed.
The sukuk could be issued as early as next week. It will be of benchmark size, which normally means upwards of $500 million, and the proceeds will be used for general corporate purposes, the company said in a separate statement.
The airline, owned by the government of Dubai through the Investment Corporation of Dubai, has hired Citi and Standard Chartered as global coordinators for the potential sale of Islamic bonds.
The two banks are also joint lead managers of the sukuk now being offered, together with Abu Dhabi Islamic Bank, BNP Paribas, Dubai Islamic Bank, Emirates NBD Capital, First Abu Dhabi Bank, HSBC, JPMorgan and Noor Bank.
Subject to market conditions, it will be a 10-year sukuk amortised over a five-year period, the document showed.
Emirates has issued four international corporate bonds so far, starting in 2011 and raising over $3.65 billion, more than half of which was via sukuk, the company said in its statement. (Reporting by Davide Barbuscia and Alexander Cornwell; editing by John Stonestreet)