Abu Dhabi National Energy (TAQA) has secured a $3.5 billion revolving credit facility.
The new five-year multi-currency facility with a syndicate of 13 banks will be used for “general corporate purposes” and will replace the company’s existing $3.1 billion revolving credit facility.
First Abu Dhabi Bank, Sumitomo Mitsui and Mizuho Bank were bookrunners, initial mandated lead arrangers and global coordinators of the facility.
Mashreqbank, BNP Paribas, Citibank, HSBC, Intesa Sanpaolo, MUFG Bank, Bank of China, National Bank of Kuwait, Industrial and Commercial Bank of China and Scotiabank were the other members of the bank syndicate.
“TAQA’s funding exercises continue to be met with strong levels of interest from investors and lenders alike,” said Mohammed Al Ahbabi, chief financial officer of TAQA.
TAQA is a diversified international energy group headquartered in Abu Dhabi.