UAE’s Etisalat to raise 1 billion euros with two-tranche bonds  

Abu Dhabi-based telecoms operator Etisalat is set to raise 1 billion euros ($1.2 billion) in dual-tranche bonds on Thursday, a document from one of the banks leading the deal showed.

The company plans to raise 500 million euros in seven-year notes and a further 500 million euros with a 12-year maturity, according to the document reviewed by Reuters.

The seven-year notes were being marketed at about 85 basis points over mid-swaps, with the 12-year tranche at about 110 bps over.

HSBC, BNP Paribas, First Abu Dhabi Bank and Societe Generale have been hired to arrange the transaction, which is expected to close later on Thursday. Reuters