DUBAI, June 11 (Reuters) - Abu Dhabi-based telecoms operator Etisalat has tightened price guidance across all four tranches of its planned debut bond issue which is due to price later on Wednesday, a document from lead arrangers said.
Revised guidance earmarks the dollar bond with a five year lifespan to price at 75 basis points over midswaps, while the ten year offering has been set in the range of 90-95 bps over midswaps, the document said.
This represents a drop from the initial price thoughts of 80 bps and 100-110 bps over the same benchmarks respectively issued earlier on Wednesday.
Tightened pricing for the 7-year euro tranche is in the range of 80-85 bps over midswaps, while the 12-year euro bond is at 110-115 bps over midswaps, the document said.
This is inside initial guidance for the euro bond tranches of 100 bps for the seven-year and 125 bps for the 12-year.
Investor orders worth around $7.3 billion have been placed for the dollar portions and about 7.9 billion euros for the euro offering by the United Arab Emirates’ largest telecom operator, the latest document said. (Reporting by Azza Al Arabi; Writing by Archana Narayanan; Editing by David French)