Etisalat raises $1.2bn through bond sale
Etisalat raises $1.2bn through bond sale
Abu Dhabi-based telecoms operator Etisalat raised €1 billion ($1.21bn) through the issue of new, euro-denominated bonds, the company said on Sunday.
The UAE’s biggest telecoms operator issued €500 million of seven-year and €500m of 12-year bonds under its existing $10bn Euro Medium Term Note programme, the company said in a statement to the Abu Dhabi Securities Exchange, where its shares trade. The proceeds will be used to repay a €1.2 billion bond that matures in June, it added.
“The bonds issuance was completed after conducting roadshows with international investors on 4 and 5 May,” Etisalat said.
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