The Abu Dhabi Securities Market announced the secondary listing of Abu Dhabi National Energy Company’s dual-tranche Taqa bonds, worth $1.5 billion, on its main market.
The 5-year bonds worth $500 million, which mature in 2029, were issued as conventional bonds with a coupon of 4.375 percent, according to the market statement.
The $1 billion 10-year tranche, which matures in 2033, is priced at a coupon of 4.696 percent with coupon payments to bondholders made semi-annually.
The 10-year bonds have also been structured as green bonds, which is considered the first green bond issuance for an energy company, and the proceeds will be used to finance, refinance and invest in eligible green projects in line with the company’s green financing framework.
The order book was oversubscribed 10 times, with regional and international investors submitting total orders exceeding $15 billion.
These bonds are also rated Aa3 by Moody's and AA- by Fitch.
