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FINANCIAL NEWS
UAE’s Etisalat completes USD7b GMTN Program listing
23 May 2014
(MENAFN) Emirates Telecommunications Corporation (Etisalat) has announced the listing of its Global Medium Term Note (GMTN) Program on the Irish Stock Exchange (ISE) at USD7 billion, according to the Emirates 24/7.
Under the program, Etisalat can issue one or more series of conventional bonds in any currency and amount up to USD7 billion.
The listed bond program is being rated by three credit rating agencies with the following ratings: Moody’s Aa3 (outlook ‘ stable); Standard and Poor’s AA- (outlook ‘ negative/watch); and Fitch A+ (outlook ‘ stable).
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