03 Mar 2011
(MENAFN) The chief financial officer of Abu Dhabi National Energy Company (TAQA), Doug Fraser, said that the company is considering entering debt markets with issuing a bond in an attempt to repay a debt maturity in 2012, reported Arab News.
The CFO said that TAQA, the 75 percent government-owned company, is receiving a USD1.5 billion note in October 2012.
Fraser said that political turmoil in the region is expected to halt the outbreak of new bond issues awaken by investor demand for quasi-government debt.
According to the CFO, the firm is seeking to spend USD2 billion per annum in the short-term in capital investment excluding acquisitions. Fraser added that the company could also invest in shale oil and gas.
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