Etihad Airways, wholly owned by the Abu Dhabi government, on Wednesday sold $600m in five-year “transition” sukuk, or Islamic bonds, which help fund the shift to a greener future, a document showed. It set the final spread for the sukuk at 200 basis points over mid-swaps and received more than $700m in orders for the debt sale, the document from one of the banks arranging the deal showed. It began marketing in the mid-2% area on Tuesday. The sukuk are part of a $3b sukuk programme expected to be rated ‘A’ by Fitch and will be unlisted. Investors had to sign a non-disclosure agreement to see Etihad’s financials and invest in the notes. Proceeds of so-called transition bonds are used by companies to gradually switch to more environmentally sustainable operations. Etihad’s plans include using more fuel-efficient planes and eliminating single-use plastics, according to an investor presentation. The airline aims to cut its 2019 carbon emissions level in half by 2035 and reduce emissions to zero by 2050.<br/>