Abu Dhabi-based telecoms operator Etisalat completed the issuance of its 1 billion euros ($1.2 billion) bonds under its $10 billion Euro Medium Term Note (EMTN) programme, it said in a statement to Abu Dhabi Exchange (ADX) where it is listed.
The dual tranche bonds included the seven-year note of 500 million euros with an annual yield of 0.4 percent and the 12-year note of 500 million euros with yield of 1 percent.
The proceeds from the issuance, which was six times over-subscribed, will be used for the repayment of the maturing seven-year Euro tranche amounting to 1.2 billion euros in June 2021, the telecoms company said.
(Writing by Brinda Darasha; editing by Seban Scaria)
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