UAE telecoms group Etisalat (ETEL.AD), which is eyeing a stake in Kuwait's Zain (ZAIN.KW), said on Thursday it will create an $8 billion bond programme in the coming few days.
Etisalat will establish a $7 billion global medium-term note (GMTN) programme and a $1 billion sukuk programme, which will allow it to issue conventional or Islamic bonds when needed, it said in a statement on the bourse website.
Etisalat, formerly known as Emirates Telecommunications Co, is finalising loan facilities worth $12 billion from a club of around 12 banks to cover the cost of its planned 46 percent acquisition of Zain, banking sources close to the deal have said. [ID:nLDE6A81EC]"
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