The successful issuing of a US$750 million Blue Bond to fund sustainable water and wastewater management projects was announced on Thursday by Abu Dhabi National Energy Company PJSC (TAQA). This is the largest Blue Bond ever issued in the EMEA region and the largest issued by an integrated power and water company worldwide. International investors were highly interested in the five-year bond, which was issued in a private placement structure with Standard Chartered Bank acting as the only placement agent.
According to TAQA’s corporate credit rating, the notes have a coupon rate of 5.125 percent, are listed on the London Stock Exchange’s International Securities Market, and are rated Aa3 by Moody’s and AA by Fitch. Moody’s gave the Framework a Sustainability Quality Score of SQS2 (Very Good) in their Second Party Opinion. According to the Framework, qualified Blue projects will be financed or refinanced using the bond’s net proceeds.
Since the introduction of the Green Finance Framework in 2023, TAQA has issued $2.6 billion worth of Green and Blue labeled bonds. Through the end of 2025, TAQA will have invested about $10 billion in utility sector energy transition projects since launching its 2030 Vision for Sustainable and Profitable Growth in 2021.
Also Read:
938 Tonnes of Humanitarian Aid are Transported into the Gaza Strip by Five UAE Aid Convoys
About Author
