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Abu Dhabi's Taqa Issues $750m 10-yr Bond

Source: Reuters 4/29/2014, Location: Middle East

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Abu Dhabi National Energy Co is due to price a $750 million bond with a ten-year lifespan, arranging banks said, with interest from investors covering the size of the transaction more than three times.

Order books for the deal are close to $2.5 billion, a document from lead managers said. The transaction is structured as Reg S/144a, meaning it is open to investors in the United States.

Initial price guidance has been set at 135 basis points over midswaps, the document added.

TAQA, rated A3/A, said last week it was meeting investors ahead of a possible bond issue. The transaction is being arranged by Bank of America-Merrill Lynch, Mitsubishi UFJ Securities, Royal Bank of Scotland, Societe Generale and Standard Chartered.

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Related Categories: Accounting, Statistics  Acquisitions and Divestitures  Asset Portfolio Management  Economics/Financial Analysis  General  Industrial Development  Insurance  Investment  Mergers and Acquisitions  Risk Management 

Related Articles: Accounting, Statistics  Acquisitions and Divestitures  Asset Portfolio Management  Economics/Financial Analysis  General  Insurance  Investment  Mergers and Acquisitions  Risk Management 


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