VOL. XLIV

No 34

20-August-2001

UAE

Emirates Airlines Secures $88.6Mn Refinance Deal

EmiratesAirlines announced on 15 August that it had secured a 10-year $88.6mnrefinancing agreement with a consortium of banks and export credit agencies(ECAs). The facility will replace an existing lease arrangement, which was usedto fund the purchase of an Airbus A330-200. The transaction was lead arrangedby HSBC and is 85% guaranteed by the UKs ECA, ECGD, Germanys HermesKreditversicherungs and Frances COFACE....