Taqa mandates banks for potential benchmark bond sale

Dubai: Abu Dhabi National Energy Co (Taqa), majority owned by the emirate’s government, is meeting fixed-income investors in Asia, Europe, and the US to gauge demand for a potential benchmark-sized bond, according to a bank arranging the meetings. Taqa, with over $33 billion (Dh121 billion) of assets globally, will meet investors starting this week, a document Wednesday from the arranging bank showed. A benchmark US dollar transaction under Taqa’s global medium-term note programme may follow subject to market conditions, it said. Bank of America Merrill Lynch, Mitsubishi UFJ Securities, SG CIB, Standard Chartered Bank and The Royal Bank of Scotland are arranging meetings for Taqa.