Abu Dhabi exchange lists Etisalat's dual-tranche euro bonds 

Order book for bonds has been six times oversubscribed 

  
Investors monitor screens displaying stock information at the Abu Dhabi Securities Exchange June 25, 2014. Image for illustrative purposes

Investors monitor screens displaying stock information at the Abu Dhabi Securities Exchange June 25, 2014. Image for illustrative purposes

REUTERS/Stringer

The Abu Dhabi Securities Exchange (ADX) said Monday it has listed the 1 billion euros ($1.2 billion) in dual-tranche bonds issued by UAE telecoms operator Etisalat

The issuance, which was more than six times oversubscribed, has been listed in two equal tranches maturing in 2028 and 2033, ADX said in a statement. 

The first 500 million euros in seven-year notes are set to mature on May 17, 2028 and carry a 0.375 percent coupon. The second tranche of 500 million euros will mature on May 17, 2033 and carry a 0.875 percent coupon. 

ADX is looking to increase the number of listings on the exchange and double the market capitalisation over the next three years. 

Etisalat’s bonds come on the heels of Abu Dhabi Ports’ $1 billion listing earlier this month and the listing in April of 1.1 billion euros of bonds issued by Mamoura Diversified Global Holding, a subsidiary of Mubadala Investment Company

(Writing by Cleofe Maceda; editing by Seban Scaria) 

Cleofe.maceda@refinitiv.com

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