{"id":1142,"date":"2023-09-07T16:18:41","date_gmt":"2023-09-07T14:18:41","guid":{"rendered":"https:\/\/sahfy.net\/news\/?p=1142"},"modified":"2023-09-07T16:18:41","modified_gmt":"2023-09-07T14:18:41","slug":"adx-lists-1-5-billion-of-dual-tranche-taqa-bonds-on-its-main-market","status":"publish","type":"post","link":"https:\/\/sahfy.net\/news\/?p=1142&lang=en","title":{"rendered":"ADX lists $1.5 billion of dual-tranche TAQA bonds on its main market"},"content":{"rendered":"<p>Abu Dhabi Securities Exchange (ADX) is pleased to announce the secondary listing of Abu Dhabi National Energy Company PJSC (TAQA) dual-tranche $1.5 billion bonds on its main market.<\/p>\n<p>&nbsp;<\/p>\n<p>The 5-year $500 million notes, maturing in 2029, were issued as conventional bonds with a 4.375% coupon, while the 10-year $1 billion tranche, maturing in 2033, was priced with a 4.696% coupon \u2013 with coupon payments being made to bondholders on a semi-annual basis.<\/p>\n<p>&nbsp;<\/p>\n<p>Moreover, the 10-year notes were structured as green notes \u2013 TAQA\u2019s first green issuance \u2013 with the proceeds being used to finance, refinance and invest in eligible green projects in line with TAQA\u2019s Green Finance Framework. The dual-tranche senior unsecured notes \u2013 which form part of TAQA\u2019s Global Medium Term Note Programme \u2013 will now be listed on both ADX and the London Stock Exchange (LSE).\u00a0 This listing brings the overall debt instruments listed on ADX to 44.<\/p>\n<p>&nbsp;<\/p>\n<p>Commenting on the secondary listing,\u00a0<b>Mr.<\/b>\u00a0<b>Abdulla Salem Alnuaimi, Chief Executive Officer of Abu Dhabi Securities Exchange,\u00a0<\/b>said: \u201cTAQA\u2019s sizeable secondary bond listing on ADX reflects our ongoing and successful efforts to increase the number of listings across our growing debt market. In line with these efforts, we continue to demonstrate our ability to diversify and broaden the range of securities on offer across ADX markets to benefit of our market participants.\u201d<\/p>\n<p>\u201cThis listing also demonstrates the increasing prevalence of bonds that have witnessed a sharp rise with numerous ADX-listed companies issuing green bonds. Aligned to green finance frameworks, these issuances support the continued development of ESG and sustainability across our market, aligned with the UAE\u2019s efforts and net zero ambitions.\u201d<\/p>\n<p>&nbsp;<\/p>\n<p><a name=\"m_-4461815626092422771_x__Hlk144391986\"><\/a><b>Jasim Husain Thabet, TAQA\u2019s Group Chief Executive Officer and Managing Director<\/b>\u00a0commented: \u201cTAQA is pleased to announce the secondary listing of our dual-tranche bonds onto the Abu Dhabi debt market in partnership with ADX, including our first TAQA-issued green bond. As a low-carbon power and water champion, we see green finance and decarbonization projects as key growth opportunities for our business driven by local and international investors\u2019 growing demand for credible green investments. Furthermore, we are positioning ourselves as one of the region\u2019s leaders when it comes to green financing with our Green Finance Framework, our ESG Strategy and 2030 emissions reduction targets. TAQA is a company that represents the energy transition in action with ambitious decarbonization targets and a credible strategy to get us there.\u201d<\/p>\n<p>At the time of issuance, the order book was nearly 10 times oversubscribed, with regional and international investors placing total orders of over $15 billion. In line with TAQA\u2019s corporate credit rating, the notes are rated Aa3 by Moody\u2019s and AA- by Fitch, reflecting TAQA\u2019s robust financial position and Abu Dhabi\u2019s strong macroeconomic fundamentals and outlook.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Abu Dhabi Securities Exchange (ADX) is pleased to announce the secondary listing of Abu Dhabi National Energy Company PJSC (TAQA) dual-tranche $1.5 billion bonds on its main market. &nbsp; The 5-year $500 million notes, maturing in 2029, were issued as conventional bonds with a 4.375% coupon, while the 10-year $1 billion tranche, maturing in 2033, [&hellip;]<\/p>\n","protected":false},"author":3,"featured_media":1143,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"tdm_status":"","tdm_grid_status":"","footnotes":""},"categories":[59,87],"tags":[1556,1560,1558,1562],"class_list":["post-1142","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-energy-en","category-gcc-en","tag-abu-dhabi-national-energy-company","tag-chief-executive-officer-of-abu-dhabi","tag-taqas-global-medium","tag-taqas-group-chief-executive-officer"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v19.6.1 - 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