UAE's largest utility firm Abu Dhabi National Energy Company (also know as TAQA) plans to sell two-tranche US dollar-denominated debt with pricing expected later in the day, fixed income news service IFR reported on Wednesday.
TAQA, which is majority owned by the government of Abu Dhabi, has set indicative price for its 7-year debt instrument at 120 basis points (bps)) over US Treasuries, while 12-year green debt is being marketed at 140 bps over the same benchmark, the IFR said.
The firm has taken on board Bank of China, Barclays, Citi, FAB, J.P. Morgan, Mizuho, MUFG and Natixis as joint bookrunners & joint lead managers, IFR added.
Citi, FAB and MUFG are jointly structuring the green debt.
The proceeds from the sale of two-part debt sale will finance general corporate purposes and eligible green projects.
TAQA raised $1.5 billion through the sale of dual tranche bonds in April last year.—Reuters