Etisalat Raises $4.3 Billion in Bond Debut for Maroc Telecom
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Emirates Telecommunications Corp. raised $4.3 billion in its first-ever bond sale as the United Arab Emirates phone company seeks funds for its acquisition of Maroc Telecom.
The offering includes 1.2 billion euros ($1.62 billion) each of seven-year and 12-year securities, according to two people with knowledge of the sale, who asked not to be identified because the information is private. That’s the biggest ever sale of bonds from a Gulf Cooperation Council borrower denominated in the European single currency, according to data compiled by Bloomberg.