Tawasul
Mubasher TV
Contact Us Advertising   العربية

TAQA hires banks to arrange dual-tranche bond issuance

TAQA hires banks to arrange dual-tranche bond issuance
The company has also announced a tender offer for 3.625% notes
TAQA
TAQA
-0.72% 1.37 -0.01

Abu Dhabi – Mubasher: Abu Dhabi National Energy Company (TAQA) has hired banks to arrange a dual-tranche bond issuance, comprising a seven-year tranche and 30-year Formosa paper, Reuters reported.

The company has also announced a tender offer for 3.625% and 5.875% notes due in 2021 and 3.625% notes due in 2023, as shown by a cited document from one of the banks arranging the deal.

Citi and HSBC are global coordinators for the new bonds and will hold investor calls starting on Monday, along with the Bank of China, First Abu Dhabi Bank (FAB), HSBC, Mashreq, Mizuho, and MUFG. 

At the same time, BNP, HSBC, MUFG and SMBC Nikko are arranging the tender offer.