Abu Dhabi National Energy Co (TAQA) TAQA, the global energy company based in Abu Dhabi, today announced the successful signing of a JPY 20.4 billion ($ 200 million) loan facility, WAM reported.
The five-year loan was arranged by Bank of Tokyo-Mitsubishi UFJ at a competitive 60 basis points over Japanese Yen LIBOR, and has been fully swapped into US Dollars by Mitsubishi UFJ Securities.
The funds will be used to refinance a portion of TAQA's upcoming USD 1.2 billion bond maturity.
"This is the first part of our 2014 refinancing operation. The Samurai loan brings in a new pool of liquidity for TAQA at extremely competitive rates," said Stephen Kersley, Chief Financial Officer at TAQA.