TAQA issues $500mn bonds

TAQA issues $500mn bonds
Published: 30 September 2019 - 7:45 a.m.
By: Carla Sertin

Energy holding company Abu Dhabi National Energy Company (TAQA) has finalised the issuance of $500mn senior unsecured notes due in October 2049, UAE state news agency WAM reported.

"The proceeds of the offering will be used for repayment of other outstanding debt," the company wrote in a disclosure to the Abu Dhabi Securities Exchange.

It also said the bonds will carry a coupon and re-offer yield to maturity of 4,000%.

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