2023-04-18 06:52:48
Abu Dhabi National Energy Company (TAQA), the UAE, issued first-class unsecured bonds at a value of $1.5 billion in two tranches, one with a five-year term and the other with a ten-year term.
The value of the ten-year bonds amounted to $1 billion, due in 2033, with an interest rate of 4.696% annually. These bonds are the first green bonds issued by TAQA, and the net proceeds from this issuance will be used to finance, refinance and invest in green projects, according to the company’s statement on Tuesday.
As for the five-year bonds, their value amounted to $500 million due on January 24, 2029, and they are ordinary bonds with an annual interest rate of 4.375%. The value of orders for the bonds approached $15 billion, bringing the offering coverage rate to 10 times.
The issuance was arranged and offered by a banking consortium made up of BNP Paribas, Emirates NBD Capital, First Abu Dhabi Bank, HSBC, ICBC and IMI-Intesa Sanpaolo, Scotiabank, SMBC NCO, Standard Chartered,
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