Abu Dhabi’s TAQA lists nine bonds worth $8.25bn on ADX

Abu Dhabi’s TAQA lists nine bonds worth $8.25bn on ADX

Abu Dhabi National Energy (TAQA) has made a secondary listing of nine bonds with a total value of $8.25 billion, maturing between 2023 and 2051, on the Abu Dhabi Securities Exchange (ADX).

The bonds were largely issued as part of TAQA’s Global Medium Term Note Program and are listed on the London Stock Exchange. The bonds range in size from $500 million to $1.5 billion, with issuance tenors ranging from seven years to 30 years.

The fixed coupons on the bonds range from 2 percent to 6.5 percent, and they are distributed to investors semi-annually. The bonds are rated AA- by Fitch and Aa2 by Moody’s. The listing of TAQA’s bonds takes the number of debt instruments listed on the ADX to 37.

Jasim Husain Thabet

Group CEO & MD

TAQA “The listing of nine TAQA-issued bonds on ADX is an important milestone for both organizations as it provides additional liquidity for local and regional investors and strengthens Abu Dhabi’s debt capital market. TAQA is proudly an Abu Dhabi-based company, a market critical to our strategy for growth. Extending investment opportunities to our stakeholders across the Emirate will contribute to the development of the local capital markets at a time when the UAE is experiencing