The value was reached Bonds With a term of 12 years, $850 million, due on March 9, 2037, with an annual interest rate of 4.75 percent, it is green bonds. This is the second offering of green bonds from “energyIts proceeds will be used to finance and refinance, And investment In green projects, according to a framework Green financewhich is implemented by “Taqa”.
As for the bonds with a maturity of 7 years, they amounted to $900 million and mature on October 9, 2031. They are ordinary bonds with an annual interest rate of 4.375 percent, and their proceeds will be used to finance general purposes in the company.
It is expected that the documents related to this offering will be signed on October 7, 2024, with settlement completed on October 9, 2024, while this offering attracted strong interest from Investors Local, regional and international.
This is expected to happen Bonds Which forms part of the “Taqa” global medium-term bonds program, with a credit rating of “Aa3” by the “Taqa” agency.Moody’s“, and rated “AA” by the agency “Fitch“, in line with the credit ratings of “Taqa”, and its inclusion in London Stock Exchange.
An offering has been arranged Bonds By a banking group that includes the lead issue managers and joint bookrunners, which includes “Bank of China Limited,” “Barclays Bank Limited,” “Citigroup Global Markets Limited,” and “First Abu Dhabi Bank PJSC, JP Morgan Securities Limited, Mizuho International Limited, MUFG Securities EMEA Limited, and Natixis.
As part of TAQA’s efforts to enhance its portfolio of low-carbon assets, the company was able to obtain financing worth $1.85 billion according to its green financing framework since 2023.
This financing played a key role in accelerating growth in the project portfolio Renewable energy TAQA has and is driving strategic acquisitions in the group.
Jassim Hussein Thabet, Group CEO and Managing Director of TAQA, said: “This offering of TAQA’s green bonds confirms our continued ability to obtain financing at competitive rates, as we make progress in implementing our environmental, social, governance, and decommissioning strategy.” Carbon. This is the second issuance of green bonds according to the green financing framework implemented by TAQA, and it reflects the increasing investor demand for credible green investments, which are in line with our ambitious growth goals.”
Thabet added: “Our latest bond offering also embodies our commitment to financing sustainable solutions that provide… electricity “Reliably low-carbon water for communities and businesses, while creating long-term sustainable value for our shareholders.”
For his part, Stephen Ridlington, Group Chief Financial Officer, said: Abu Dhabi National Energy Company “energy“Our success in offering these two tranches of bonds confirms investors’ confidence in the financial strength of TAQA. Once again, we obtained competitive financing terms, with interest rates that are fully compatible with the costs of our current institutional obligations, while maintaining our credit rating at “investment” grade, indicating that this offering will contribute significantly to enhancing our efforts aimed at financing our future growth initiatives.”
