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Taqa raises $500m via 30-yr bonds issue

Taqa raises $500m via 30-yr bonds issue
Taqa completes issuance of $500 million senior unsecured notes
TAQA
TAQA
0.30% 3.33 0.01

Abu Dhabi – Mubasher: Abu Dhabi National Energy (Taqa), listed on the Abu Dhabi Securities Exchange (ADX), announced the completion of $500 million senior unsecured notes issuance.

The notes will carry a coupon and a re-offer yield at a rate of 4% to maturity in October 2049, Taqa said in a filing to the ADX on Sunday.

“The proceeds of the offering will be used for the repayment of other outstanding debt,” the company noted.

It is worth noting that Taqa had generated AED 9 billion in revenue for the first half of 2019 and logged a net profit of AED 214 million during the period.