Taqa to sign $3b revolving credit facility

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.