12/23/2019 | Press release | Distributed by Public on 12/23/2019 10:41
Monday 23, 2019
Abu Dhabi, UAE: Abu Dhabi National Energy Company PJSC (TAQA) (ADX: TAQA) (ISIN: AEA002401015), a leading global energy company headquartered in Abu Dhabi with operations in 11 countries, announced today that it has secured a US$ 3.5 billion revolving credit facility. The new 5-year multicurrency facility with a syndicate of 13 banks will be used for general corporate purposes and will replace its existing US$ 3.1 billion revolving credit facility, signed in August 2015.
Commenting on the news, Mohammed Al Ahbabi, Chief Financial Officer of TAQA, said: 'TAQA's funding exercises continue to be met with strong levels of interest from investors and lenders alike. Our fifth such facility to date, this has allowed us to keep pricing tight and fund at favorable terms for another five years.'
The Bookrunners, Initial Mandated Lead Arrangers and Global Coordinators of the facility were First Abu Dhabi Bank (FAB), Sumitomo Mitsui Banking Corporation (SMBC) and Mizuho Bank. The remaining banks in the syndication were: Mashreqbank, BNP Paribas, Citi, HSBC, Intesa Sanpaolo, MUFG Bank, Bank of China, National Bank of Kuwait (NBK), Industrial and Commercial Bank of China (ICBC) and Scotiabank. FAB have also acted as the Documentation Bank and facility Agent.
For investor relations enquiries, please contact: Shadi Salman, CFA ([email protected])
For media enquiries, please contact: LeAnne Graves ([email protected])
Established in 2005, TAQA is a diversified international energy group headquartered in Abu Dhabi, the capital of the United Arab Emirates, and listed on the Abu Dhabi Securities Exchange (ADX: TAQA). TAQA has investments in power generation, water desalination, oil and gas exploration and production, pipelines and gas storage. The company's assets are located in Canada, Ghana, India, Iraq, Morocco, Oman, Saudi Arabia, the United Arab Emirates, Netherlands, the United Kingdom and the United States.