UAE's Etisalat plans to sell four-tranche bond as early as Weds - leads

DUBAI, June 10 Tue Jun 10, 2014 3:31am EDT

DUBAI, June 10 (Reuters) - Abu Dhabi-based telecoms operator Etisalat is planning to sell a four-tranche debut bond issue denominated in both dollars and euros as early as Wednesday, a document distributed by lead arrangers said.

Meetings with fixed income investors are due to conclude in London on Tuesday, with a transaction slated for Wednesday, the document said.

It also reiterated that Etisalat plans to divide the bond issue into four portions - two dollar tranches of five- and 10-year lifespan, plus two euro-denominated tranches of seven and 12 years' duration.

This was previously communicated in a separate document on Monday, which disclosed that the overall size of the issue could be as much as 3.1 billion euros ($4.22 billion), and backed up what sources told Reuters last week. ($1 = 0.7345 Euros) (Reporting by Archana Narayanan; Writing by David French; Editing by Olzhas Auyezov)

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