HSBC, BNP Paribas, First Abu Dhabi Bank and Societe Generale acted as global coordinators for the bond issue, according to Reuters.
Etisalat, which increased its foreign ownership limit from 20 per cent to 49 per cent in January to attract more external investors, reported a 3.8 per cent rise in net profit to Dh9.03bn last year despite a marginal decline in revenue.
The telecoms operator, which was established more than four decades ago and has its headquarters in Abu Dhabi, has 149 million subscribers in 16 countries in the Middle East, Africa and Asia. Sixty per cent of the company is owned by the Emirates Investment Authority, while the remainder is floated on the ADX.