Business | General
Taqa to sign $3b revolving credit facility
The Abu Dhabi National Energy Company (Taqa) said yesterday it is finalising a $3 billion, three-year revolving credit facility.
- By Himendra Mohan Kumar, Staff Reporter
- Published: 23:35 August 3, 2008
Abu Dhabi: The Abu Dhabi National Energy Company (Taqa) said yesterday it is finalising a $3 billion, three-year revolving credit facility.
"The company will inform Abu Dhabi Securities Exchange (ADX) when a final agreement is reached," it said in a filing to the ADX, where it's listed.
Taqa's chief executive officer previously said the company plans to complete four transactions totalling $5 billion in 2008 to expand its investment portfolio.
Taqa's shares yesterday ended 0.65 per cent lower at Dh3.02 a share.
Taqa informed the market that it had completed the issuance of $1 billion, 6.60 per cent senior notes due in August 2013 and $500 million of 7.25 per cent senior notes due in August 2018.
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