By Christine Van Dusen
Atlanta, April 28 – Abu Dhabi’s Emirates Telecommunications Corp. (Etisalat) printed a $400 million tap of its 2 3/8% notes due June 18, 2019 (Aa3/AA-/A+) at 101.106 to yield 2.093%, or mid-swaps plus 72.5 basis points, a market source said.
HSBC and National Bank of Abu Dhabi were the bookrunners for the deal.
The original issue of $500 million 2 3/8% notes due 2019 priced at mid-swaps plus 67.5 bps.
Etisalat is a telecommunications provider.
| Issuer: | Emirates Telecommunications Corp. (Etisalat)
|
| Amount: | $400 million
|
| Maturity: | June 18, 2019
|
| Description: | Notes
|
| Bookrunners: | HSBC, National Bank of Abu Dhabi
|
| Coupon: | 2 3/8%
|
| Price: | 101.106
|
| Yield: | 2.093%
|
| Spread: | Mid-swaps plus 72.5 bps
|
| Trade date: | April 28
|
| Settlement date: | June 18
|
| Ratings: | Moody’s: Aa3
|
| Standard & Poor’s: AA-
|
| Fitch: A+
|
| Original issue: | $500 million 2 3/8% notes priced at 67.5 bps over mid-swaps
|
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