Etihad raises US$500m for capital expenditure and debt refinancing

Etihad Airways Group and partners such as its airport services unit and minority-owned Air Berlin, Air Serbia, Alitalia and Air Seychelles have reportedly raised US$500 million in funds through a 5-year bond for capital expenditure, fleet investments and refinancing of debts.

Meanwhile, the Abu Dhabi-based aviation group had successfully raised US$700 million in September last year. The 5-year bond offers a yield of 6.75%. Etihad Aviation Group President and CEO James Hogan said the second successful transaction confirms the strength of his company and its partners.

Meanwhile, a few weeks back, Etihad had affected a management reshuffle, which saw the aviation company’s Chief Commercial Officer Peter Baumgartner taking over as the Chief Executive.