04 May 2013
(MENAFN) Abu Dhabi National Energy Co (Taqa) CFO, Stephen Kersley, announced that the utility and oil producer is considering a bond sale during 2013’s fourth quarter, reported Khaleej Times.
The move comes as Standard & Poor’s upgraded its credit outlook for Taqa to positive from stable, which is expected to lower borrowing costs.
The rating agency added that Taqa’s power and water business is projected to make a strong cash flow that may lead to an upgrade in the firm’s A credit rating.
According to Kersley, the state-owned firm plans to refinance USD1.2 billion in bonds due in next year’s September.
It is worth noting that in 2012, the company had free cash flow of USD1.80 billion, compared with 2011’s USD329 million.
13 Apr 2026
BBK launches the Youth Advisory Council (YAC) to empower youth and advance innovation
08 Apr 2026
BBK awards over BD 1 Million to 273 winners in the February Al Hayrat Grand Prizes draw
01 Mar 2026
BBK activates partial remote working system for its workforce to ensure employee and customer safety and service continuity
24 Feb 2026
BBK discloses its financial results for the year ended 31st December 2025
05 Feb 2026
BBK announces December Al Hayrat Grand Prize winners and another wave of Grand prizes for February
This website uses cookies to ensure you get the best experience and by clicking “I Accept” below, you consent to the use of cookies. Learn more