The share of Abu Dhabi National Energy Company, TAQA, rose during trading today, Tuesday, coinciding with the issuance of first-class unsecured bonds, at a value of $1.5 billion.
And by 11:44 pm Emirates time, Taqah’s share rose by 1.60 percent to a price of 2.4 dirhams, with a trading volume of about 355.561 million shares, at a value of 1.07 million dirhams.
TAQA explained that the first-class unsecured bonds came in two tranches, one with a five-year term, and the other with a ten-year term.
The value of the ten-year bonds amounted to $1 billion, due in 2033, with an annual interest rate of 4.696%.
These bonds are the first green bonds issued by TAQA, and the net proceeds from this issuance will be used to finance, refinance and invest in green projects.
The value of the five-year bonds amounted to $500 million due on January 24, 2029, and they are ordinary bonds with an annual interest rate of 4.375%.
The value of orders for the bonds approached $15 billion, bringing the offering coverage rate to 10 times.
