Bloomberg/Tomohiro Ohsumi
by Kudakwashe MuzoriwaAbu Dhabi National Energy Company (TAQA) has secured a five-year multicurrency $3.5 billion revolving credit facility from a syndicate of banks.
Mohammed Al Ahbabi, the Chief Financial Officer of TAQA, said, “Our fifth such facility to date, this has allowed us to keep pricing tight and fund at favourable terms for another five years.”
First Abu Dhabi Bank, Sumitomo Mitsui Banking Corporation and Mizuho Bank were appointed as bookrunners, initial lead arrangers and global coordinators on this transaction.
Additionally, Mashreq Bank, BNP Paribas, Citi together with HSBC, Intesa Sanpaolo, MUFG Bank, Bank of China as well as National Bank of Kuwait, Industrial and Commercial Bank of China and Scotiabank also committed to the loan facility.
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