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Etisalat Group issues 1 billion euro bonds


Etisalat Group issues 1 billion euro bonds
09 May 2021
Picture used for illustrative purpose.
Etisalat Group has announced the successful completion of a bond issuance worth one billion euros to refinance the maturing bond tranche it had issued in 2014 for the acquisition of a controlling stake in Maroc Telecom.
Etisalat Group issued bonds in two tranches, the first is a 7-years tranche amounting to 500 million euros with an annual yield of 0.4 per cent, the Group said in a statement on Sunday.
The second tranche is for a period of 12-years amounts to 500 million euros with an annual yield of 1 per cent.
The refinancing decision aims to diversify the company’s sources of funds and extending the repayment schedule of existing debt while taking benefit of improved cost of funding thereby maximising shareholders value. The bond issuance was very successful as it witnessed a remarkable demand from local and international i ....

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