Abu Dhabi: Abu Dhabi National Energy Company (Taqa) said on Sunday it has successfully completed issuance of a Malaysian Ringit 650 million ($215 million) sukuk as part of its MYR3.5 billion Sukuk programme.

"The issue saw strong interest from a well-diversified group of top Malaysian asset management companies and quality Islamic investors," Taqa said in a statement to the Abu Dhabi Securities Exchange (ADX), where its shares are listed.

The 10 year Sukuk has been raised with a profit rate of 4.65 per cent with a full swapped rate to US dollars of 5.3 per cent.

At 13:17 hours, Taqa's stock was trading at Dh1.27, 1.6 per cent higher on the ADX.

TAQA established a 3.5 billion Malaysian Ringgit programme ($1.1 billion) in November 2011 to continue to diversify its financing options in various markets. The programme will allow TAQA to issue debt swiftly when market conditions are optimal.

In January 2012, RAM Ratings assigned a preliminary AA1 rating to TAQA's MYR3.5 billion Islamic debt facility.

TAQA is the first non-financial institution in the MENA Region to complete a Ringgit Sukuk issuance. Standard Chartered Saadiq Berhad, acted as the Lead Arranger in this transaction.

Stephen Kersley, Chief Financial Officer, said: "This successful transaction opens up a new market and debt structure for TAQA. The significant demand, attractive pricing and speed of turnaround from the Malaysian market, enhances our future financing flexibility and underlines the confidence of global markets in our business"

TAQA is a global energy company majority owned by the Abu Dhabi Government and listed on the Abu Dhabi Securities Exchange.

Its activities include oil and gas, power generation and water desalination across five continents.

With operations in the UK, the Netherlands, North America, the company's Oil & Gas business includes exploration and production, storage and pipelines. TAQA produces almost 137,000 barrels of oil equivalent per day as well as operating and developing extensive gas storage facilities in the Netherlands.

TAQA is one of the largest independent power producers in the world with power plants located in the United Arab Emirates, Oman, Morocco, Saudi Arabia, Ghana, India, and the United States. TAQA is the majority owner in the facilities that provide 98% of the water and electricity requirements in the Emirate of Abu Dhabi.

Established in 2005, TAQA's entrepreneurial culture has laid the foundations for long-term sustainable growth building on its commitment to people, safety and the environment.