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UAE’s Etisalat Adds Banks, May Print Four-Tranche Bond – Sources

UAE’s Etisalat Adds Banks, May Print Four-Tranche Bond – Sources

Etisalat may issue paper of five and 10 years duration denominated in U.S. dollars, as well as offerings in euros with lifespans of seven and 12 years.

Abu Dhabi-based telecommunications firm Etisalat has added four banks to the list of bookrunners for its potential debut bond issue in passive roles, banking sources aware of the matter said on Monday.

The company, which began meeting fixed income investors on Sunday, has allocated the roles to Bank of Tokyo-Mitsubishi UFJ, Morgan Stanley, National Bank Of Abu Dhabi and Natixis, three sources said, speaking on condition of anonymity as the information isn’t public.

Etisalat may issue paper of five and 10 years duration denominated in U.S. dollars, as well as offerings in euros with lifespans of seven and 12 years, two sources said.

The company didn’t immediately respond to a request for comment.

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