Abu Dhabi: The Abu Dhabi National Energy Company, also known as Taqa, has finalised the issuance of $500 million (Dh1.83 billion), 3.625 per cent senior notes due in June 2021 and $500 million, 4.375 per cent senior notes due in June 2026.
The proceeds of this issuance will be used for general corporate purposes and to pay back a $1 billion bond maturing in October 2016. The lower interest rates will reduce Taqa’s corporate financing costs.