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FINANCIAL NEWS
Abu Dhabi’s TAQA markets USD3b five-year loan
26 Jun 2015
(MENAFN) Abu Dhabi National Energy Company (TAQA) is presently marketing USD3 billion, five-year loan to banks after receiving initial commitments from eight local and international banks, Reuters reported.
The loan amount, which will be used to consolidate existing debts into one facility with a lower rate of interest, is smaller than the USD3.5 billion that sources indicated last month the energy firm was looking to raise.
However, the overall size of the facility could be increased depending on the response from banks invited to back the deal, according to one source who spoke on condition of anonymity as the information is not public.
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