ADFG’s Integrated Capital co-leads oversubscribed $500 million Etihad Airways Note

Integrated Capital PJSC (“Integrated Capital”), the capital markets arm of Abu Dhabi Financial Group (“ADFG”), today celebrated its strong contribution as a co-lead on the successful completion of the oversubscribed issue of US$ 500,000,000 of Notes by EA Partners II B.V., the funding vehicle for Etihad Airways Partners (“Etihad”).The Notes, listed on the Global Exchange Market regulated by the Irish Stock Exchange, carry a coupon of 6.75% payable quarterly and will mature in 2021. 

‎The proceeds will be used largely for capital expenditure and investment in fleet, as well as for refinancing, depending on each individual airline’s needs across Etihad Airways Partners, comprising Alitalia, airberlin, Air Serbia, Air Seychelles, Etihad Airport Services and Etihad Airways itself.

Jassim Alseddiqi, Chairman of Integrated Capital and CEO of Abu Dhabi Financial Group, said: “Integrated Capital’s contribution as co-lead on Etihad Airways’ successful Note issue further demonstrates our unparalleled investor network and our ability to make a strong impact on high-profile transactions. Despite continuing volatility in the markets, the investment case to participate in the issue of the Notes was extremely well-received by investors leading to widespread demand and an oversubscribed offering. The appetite for this deal is a clear endorsement of the Etihad Airways’ strategy, stability and success. We congratulate Etihad Airways for the success of the issue and look forward to partnering with them again in future.”

James Hogan, President and Chief Executive Officer of Etihad Aviation Group, said: “The demand for this transaction is testimony to the strength of the offer and the manner in which it was articulated to the investor community. Working with Integrated Capital and the other co-leads on the issue allowed us to reach a wide range of sophisticated investors across the region. We thank the team at Integrated Capital for their counsel, expertise and diligence. The funds raised, will allow Etihad Airways Partners to execute the next stage in its growth strategy.”

Etihad Airways and its partner airlines currently operate 718 aircraft, carrying 115 million passengers to almost 350 destinations worldwide.

In September 2015, Integrated Capital also participated in the $700 million Note issue by EA Partners I B.V. The issue of the Note received international acclaim and won multiple accolades from prestigious business media outlets across the world.