Etisalat plans to issue tap notes under its US$7bn global medium-term note programme, subject to market conditions.The Abu Dhabi-based telco made the announcement today in a statement to the stock exchange, without elaborating further.Citing a document…
Etisalat plans to issue tap notes under its US$7bn global medium-term note programme, subject to market conditions.
The Abu Dhabi-based telco made the announcement today in a statement to the stock exchange, without elaborating further.
Citing a document from the lead arrangers, Reuters said the operator will raise up to US$500m through a re-opening of its June 2019 bond, due to be priced later in the day at around 80 bps over mid-swaps.
HSBC and National Bank of Abu Dhabi are reportedly bookrunners for the tap issuance.
Last June, the company launched its US$4.2bn debut bond offering, split into two euro and two US dollar tranches, to fund its purchase of a 53% stake in Maroc Telecom.
The jumbo bond, which set a record as the region’s biggest corporate issue, was rated Aa3, AA- and A+ by Moody’s, S&P and Fitch respectively.
