Emirates Telecommunications Corporation (Etisalat) has added four banks to the list of bookrunners for its potential debut bond, Reuters cites unnamed banking sources as saying. Bank of Tokyo-Mitsubishi UFJ, Morgan Stanley, National Bank of Abu Dhabi and Natixis have reportedly been added as passive bookrunners, joining main bookrunners Deutsche Bank, Goldman Sachs, HSBC and RBS. Last week the company said it had mandated banks to organise a series of fixed income investor meetings ahead of a potential bond issue. Etisalat, which last month bought a 53% stake in Maroc Telecom from France’s Vivendi for EUR4.14 billion (USD5.65 billion), said the meetings would be held in the UAE, Asia and Europe from 1 June. Proceeds from the bond sale would be used to repay short-term debt under Etisalat’s EUR3.15 billion multi-currency loan used to fund its Maroc Telecom purchase, Reuters adds.
Subscribe to CommsUpdate to get the day’s top telecom headlines delivered to your email.
Have feedback, corrections, or story ideas? Send them to firstname.lastname@example.org.
Browse Past Issues
Filter CommsUpdate by the following categories or use the search.
Visit our help page information on performing advanced searches, including how to restrict the results by country or company.
CommsUpdate is an outstanding advertising venue for companies seeking to reach:
- International carriers
- Wholesale service providers
- Equipment and software vendors
- Telecom investors