Abu Dhabi – Mubasher: Abu Dhabi National Energy Company (TAQA) on Wednesday announced that $500 million bonds were retired at its maturity on 25 October 2017.
“The retirement was funded from a draw down under TAQA’s existing revolving credit facility, which carries a lower interest rate,” the company stated in a filing to the Abu Dhabi Securities Exchange (ADX).
TAQA saw AED 517 million in profits for the first six months of 2017 versus a loss of AED 848 million in the comparative period of 2016.
