First Gulf Bank closes Etihad 777 financing

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Abu Dhabi-based First Gulf Bank has closed a 12-year Islamic facility structure on a new Boeing 777-300ER delivery for Etihad Airways.

Under the terms of the financing, First Gulf Bank is the initial lead arranger, underwriter, facility agent and security trustee.

The aircraft (MSN 39690) was delivered to Etihad Airways on 29 May.

The 777-300ER is the second aircraft of a $359 million financing deal. The first aircraft (MSN 39689) closed in March.

The transaction marked Etihad's first aircraft to be financed by a local UAE bank since 2008.