Complex Made Simple

Emirates, USD90m Islamic lease

Emirates has signed a USD90m Islamic lease for one Airbus A330 airliner over a 12-year term. The financing was arranged by HSBC Structured Finance, Hong Kong with HSBC Amanah Finance of Dubai and Dubai Islamic Bank as Islamic structuring advisers. The funding is provided by Dubai Islamic Bank, Abu Dhabi Commercial Bank, National Bank of Dubai, HSBC Bank Middle East and Emirates Bank International at a competitive rate of return as compared with more conventional modes of financing.