ADX lists $8.25bln of TAQA bonds

ADX lists $8.25bln of TAQA bonds

Abu Dhabi, UAE: The Abu Dhabi Securities Exchange (ADX) is pleased to announce that Abu Dhabi National Energy (TAQA) P.J.S.C has made a secondary listing on the ADX of nine bonds with a total value of $8.25 billion, maturing between 2023 and 2051.

The bonds were largely issued as part of TAQA’s Global Medium Term Note Programme 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 bonds have fixed coupons ranging from 2% to 6.5% with coupons distributed to investors semi-annually. The bonds are rated AA- by Fitch and Aa2 by Moody’s. The listing of TAQA’s bonds take the number of debt instruments listed on the ADX to 37.

On the occasion of the listings, Mr. Saeed Hamad Al Dhaheri, Managing Director and Chief Executive Officer of ADX, said: “TAQA’s secondary listing of $8.25 billion of bonds on the ADX demonstrates the robust confidence that fixed-income issuers have in our flourishing debt capital market. At the same time, we are delighted to be offering market participants a greater range of securities on our exchange as part of our ‘ADX One’ strategy