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TAQA lists $8.25bn bonds on ADX

TAQA lists $8.25bn bonds on ADX
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Abu Dhabi – Mubasher: Abu Dhabi National Energy Company (TAQA) has announced its secondary listing on the Abu Dhabi Securities Exchange (ADX) of nine bonds worth $8.25 billion.

To mature between 2023 and 2051, the bonds were issued as part of the company's Global Medium Term Note Programme, according to a press release on Thursday.

Listed on the London Stock Exchange, the bonds have fixed coupons ranging from 2% to 6.5%, distributed to investors semi-annually.

This listing raises the number of debt instruments listed on the ADX to 37.

The Managing Director and CEO of ADX, Saeed Hamad Al Dhaheri, said: "TAQA’s secondary listing of $8.25 billion of bonds on the ADX demonstrates the robust confidence that fixed-income issuers have in our flourishing debt capital market."

Meanwhile, TAQA’s Group CEO and Managing Director, Jasim Husain Thabet, commented: "The listing of nine TAQA-issued bonds on Abu Dhabi Securities Exchange (ADX) is an important milestone for both organizations as it provides additional liquidity for local and regional investors and strengthens Abu Dhabi’s debt capital market."

It is noteworthy to mention that in the first quarter (Q1) of 2022, the net profits attributable to the equity holders of TAQA increased by 37% to AED 1.97 billion from AED 1.43 billion in the year-ago period.