Emirates Telecommunications offers euro-denominated seven-year, 12-year notes

By Rebecca Melvin

Concord, N.H., May 4 – Emirates Telecommunications Group Co. PJSC (Etisalat) has selected banks and scheduled fixed-income investor calls regarding a planned offering of euro-denominated notes due in seven years and 12 years, according to a market source.

The notes are being sold under the company’s $10 billion euro medium-term note program (Aa3/AA-).

BNP Paribas, First Abu Dhabi Bank, HSBC and Societe Generale are joint lead managers and joint bookrunners of the Regulation S notes with Citigroup and Emirates NBD Capital also mandated as passive bookrunners.

A global investor call is being held on Tuesday along with a series of fixed-income investor calls on Tuesday with pricing of the tranches to follow, subject to market conditions.

The multinational telecommunications services provider is based in Abu Dhabi, United Arab Emirates.

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