Emirates closes $1bn bond issue

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Middle Eastern carrier Emirates has closed a $1 billion bond issue.

The issue, which has a five-year maturity, will be listed on the London stock exchange. Emirates will use the proceeds for general corporate financing purposes.

The latest bond issue "received an overwhelmingly positive response from a very wide range of investors", said Emirates chairman Sheikh Ahmed Bin Saeed Al Maktoum.

Deutsche Bank, Emirates NBD, HSBC and Morgan Stanley acted as joint lead managers of the issue.