By: Ramy Sameeh
Abu Dhabi – Mubasher: Abu Dhabi National Energy (TAQA) managed to issue two-tranche dollar-denominated bonds worth $750 million.
The funds raised from the bonds issue will be used to refinance existing bonds, as well as to finance the company’s general budget.
In August, TAQA’s chief financial officer Grant Gillon said the company plans to return to the bond market later this year or by the beginning of 2017, to refinance matured debts.
The first issue is valued at $250 million and matures in 22 June 2021 with a coupon of 3.625%, while the second is worth $500 million and matures in 22 June 2026 with a coupon of 4.375%.
Translated by: Julian Nabil
