TAQA Launches Syndication of US$ 3.0 Billion Revolving Credit Facility
The Abu Dhabi National Energy Company PJSC (TAQA), a publicly listed company on the Abu Dhabi Securities Exchange (ADX: TAQA), today announced that it has mandated The Bank of Tokyo-Mitsubishi UFJ, Ltd. (co-ordinator), BNP Paribas, Citi, HSBC, The Royal Bank of Scotland PLC and Standard Chartered Bank (“the bookrunners”) to arrange a US$ 3.0 billion revolving credit facility. The Bank of Tokyo-Mitsubishi UFJ, Ltd. will act as facility agent. Ahead of the launch of syndication, the bookrunners were joined by Bank of America Merrill Lynch and Sumitomo Mitsui Banking Corporation and together were designated initial mandated lead arrangers.
The facility is structured into multi-currency three and five year revolving credit tranches. The facility will be used for general corporate purposes and will replace the existing US$ 3.15 billion revolving credit facility signed in August 2008.
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