Etisalat planning USD500m bond issue

United Arab Emirates telco Etisalat is planning a new USD500 million bond issue by the end of 2014, following on from a USD4.3 billion bond sale in June this year. According to a report from Arabian Business, which cites a source from an unnamed global bank, Etisalat is currently negotiating the terms of the issue, with the money raised to be used for improving network infrastructure in the operator’s existing markets rather than for any new acquisitions. Etisalat has operations in 19 countries across the Middle East, Africa and Asia, with over 182 million subscribers.