UAE's Etisalat sets initial guidance for debut bond sale -Leads
DUBAI, June 11
DUBAI, June 11 (Reuters) - Abu Dhabi-based telecommunications operator Etisalat has set initial price thoughts on its debut bond issue which could price at end of the day, a document from the lead managers said on Wednesday.
Pricing guidance for a 5-year dollar bond has been set at 80 basis points over mid-swaps and a 10-year dollar bond is set in the area of 100 to 110 basis points over mid-swaps.
Etisalat gave initial pricing guidance for a 7-year euro bond at 100 basis points over mid-swaps, setting a 12-year euro tranche at 125 bps over mid-swaps.
The company did not state the size of the deal, but some bankers speculate it will be between $2 billion and $3 billion.
Lead managers for the Etisalat issue are Deutsche Bank , Goldman Sachs, HSBC and RBS. (Reporting by Archana Narayanan; editing by Matt Smith)