Abu Dhabi – Mubasher: Emirates Telecommunication Group (Etisalat) has planned to issue bonds ahead of a EUR 1.2 billion ($1.45 billion) bond maturity in June, three sources told Reuters.

Etisalat, which has not issued bonds since its debut sale in 2014, seeks to sell two euro-denominated tranches worth EUR 1.2 billion each and two US dollar-denominated worth $500 million each.

The sources referred that one of the euro tranches is due on June 18.

One of the sources said the planned euro-denominated bond sale could be implemented as early as this week.

It is noteworthy to mention that in 2020, the net profits attributable to the equity holders of Etisalat increased by 3.8% to AED 9.027 billion from AED 8.693 billion in 2019.