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24 December 2019

UAE’s TAQA secures a $3.5 billion revolving credit facility

The credit facility will be used for general corporate purposes and to replace the existing $3.1 billion revolving credit facility signed in August 2015.

Bloomberg/Tomohiro Ohsumi

by Kudakwashe Muzoriwa

Abu 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.



RELATED STORIES: Sumitomo Mitsui Banking Corporation TAQA Abu Dhabi National Energy Company First Abu Dhabi Bank Mizuho Bank





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