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    FAB   AEN000101016

FIRST ABU DHABI BANK P.J.S.C.

(FAB)
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Etihad raises $1.2 billion in sustainability-linked debt

10/13/2021 | 05:44am EST
FILE PHOTO: An Etihad Airways Airbus A320-200 at the National Airport Minsk, Belarus

DUBAI (Reuters) -Etihad Airways said on Wednesday it has raised $1.2 billion with a loan linked to environmental, social and governance (ESG) targets in global aviation.

The airline said this was the first sustainability-linked loan in global aviation tied to ESG targets, which relate to reducing carbon emissions and improving corporate governance in addition to advancing female participation.

"Through our Greenliner programme, we are pursuing multiple sustainability-related initiatives at Etihad Airways to improve the environmental footprint of aviation, and green financing is a key part of our strategy," the group's CFO Adam Boukadida said.

Etihad has committed to a target of net zero carbon emissions by 2050.

HSBC and FAB acted as joint ESG structuring banks, joint ESG coordinators, joint bookrunners and mandated lead arrangers. FAB also acted as facility agent.

Last year, Etihad raised $600 million in "transition" sukuk, or Islamic bonds, which are used by companies to switch to more environmentally sustainable operations.

It also raised a 100 million euro loan in 2019 tied to the United Nations Sustainable Development Goals.

(Reporting by Alexander Cornwell; Writing by Shakeel Ahmad. Editing by Jane Merriman)


ę Reuters 2021
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Financials
Sales 2021 20 901 M 5 691 M 5 691 M
Net income 2021 12 307 M 3 351 M 3 351 M
Net Debt 2021 - - -
P/E ratio 2021 17,2x
Yield 2021 3,94%
Capitalization 209 B 56 984 M 56 994 M
Capi. / Sales 2021 10,0x
Capi. / Sales 2022 10,0x
Nbr of Employees 5 451
Free-Float 66,6%
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Number of Analysts 11
Last Close Price 19,18 AED
Average target price 16,26 AED
Spread / Average Target -15,2%
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Hana Al-Rostamani Group Chief Executive Officer
James Burdett Group Chief Financial Officer
Tahnoun bin Zayed bin Sultan Al-Nahyan Chairman
Fadhel Abdulbaqi Abul Hasan Al-Ali Group Chief Operating Officer & Deputy Group CEO
Ahmed Mohamed Sultan Al-Dhaheri Non-Executive Director
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