LAHORE: Etihad Airways Partners (EAP) has sealed a $700m landmark five-year finance deal to fund expansion.
The deal was recognised by the prestigious market intelligence organisation International Financing Review (IFR) with the award for Emerging Europe Middle East and Africa Bond of the Year.
The award, presented at a Gala Dinner in London, acknowledged the first joint financing deal of its kind in the airline industry in which lead advisor Goldman Sachs successfully raised equity from the markets for Etihad Airways, its subsidiary Etihad Airport Services and five of its strategic partners – airberlin, Air Serbia, Air Seychelles, Alitalia and Jet Airways – within Etihad Airways Partners.
The transaction was for a mixture of capital expenditure and investment in fleet, and refinancing depending on each business unit’s individual needs. The award recognised the confidence financial institutions showed in Etihad Airways’ unique business model that is focused on creating synergies between the businesses the airline has invested in.
Just days earlier, Etihad Airways was honoured in London by prominent financial publication Treasury Management International for implementing leading edge technology and developing innovative practices to streamline processes, creating a consistent robust and secure approach to payment systems, improving efficiency and enhancing corporate finance procedures.
The TMI 2015 Corporate Recognition Award for Innovation and Excellence was based on nominations by third parties and Etihad Airways was judged by peers across the finance world to have set industry leading global standards and best-in-class treasury innovation.
James Hogan, Etihad Airways’ President and Chief Executive Officer, said: “Both these awards demonstrate how Etihad Airways is focused on being the best at what it does in different areas of the business, whether it’s product and service or behind the scenes in developing innovative, robust processes to support our unique business growth model.
