TAQA Launches Dual-Tranche Dollar Bonds For Green Financing Arabian Post
Arabian Post Staff -Dubai
Abu Dhabi National Energy Company (TAQA) has launched a dual-tranche US dollar bond offering, targeting international investors as the utility group seeks financing for eligible green projects and other corporate requirements.The transaction, launched on Monday, October 19, comprises a long five-year tranche and a 10-year tranche of senior unsecured notes. Initial pricing discussions placed the shorter maturity at approximately 130 basis points above US Treasury yields and the longer maturity at around 140 basis points.
The company is targeting settlement on October 26, with the shorter tranche scheduled to mature on April 26, 2032, and the longer tranche on October 26, 2036. Final pricing, individual tranche sizes and the aggregate amount raised have not been independently confirmed.
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