Abu Dhabi National Energy Company (Taqa) announced the successful pricing of $1.75 billion in 7-year and 12-year dual-tranche senior unsecured notes.
The $850 million 12-year notes, which mature on March 9, 2037, have a coupon rate of 4.75%. According to the company’s Green Finance Framework, the net proceeds of the issuing of these notes—which constitute Taqa’s second green bond offering—will be utilised to fund, refinance, and invest in pertinent, qualified green initiatives.
The US$900 million 7-year notes, which mature on October 9, 2031, are conventional bonds with a 4.375% coupon rate. The money raised from these bonds will be put towards general business needs.
The transaction documents are anticipated to be signed on October 7, 2024, and the settlement will take place on October 9, 2024. Strong demand from domestic, regional, and foreign investors benefited the deal.
By the company’s corporate credit rating and listed on the London Stock Exchange (LSE), the Notes, which are a part of Taqa’s Global Medium Term Note Program, are anticipated to receive ratings of Aa3 from Moody’s and AA from Fitch.
Bank of China Limited, Barclays Bank PLC, Citigroup Global Markets Limited, First Abu Dhabi Bank PJSC, J.P. Morgan Securities plc, Mizuho International plc, MUFG Securities EMEA plc, and Natixis were among the syndicate of joint lead managers and book runners that organized and conducted the offering.
Also Read:
26th WETEX Edition is Launched by Sheikh Ahmed Bin Saeed
Leading The Way In Financial Services With JurisTax: Nishi Kichenin
About Author
