Abu Dhabi, UAE: The Abu Dhabi Securities Exchange (ADX) is pleased to announce that Abu Dhabi National Energy (TAQA) P.J.S.C has made a secondary listing on the ADX of nine bonds with a total value of $8.25 billion, maturing between 2023 and 2051.
The bonds were largely issued as part of TAQA’s Global Medium Term Note Programme and are listed on the London Stock Exchange. The bonds range in size from $500 million to $1.5 billion, with issuance tenors ranging from seven years to 30 years. The bonds have fixed coupons ranging from 2% to 6.5% with coupons distributed to investors semi-annually. The bonds are rated AA- by Fitch and Aa2 by Moody’s. The listing of TAQA’s bonds take the number of debt instruments listed on the ADX to 37.
On the occasion of the listings, Mr. Saeed Hamad Al Dhaheri, Managing Director and Chief Executive Officer of ADX, said: “TAQA’s secondary listing of $8.25 billion of bonds on the ADX demonstrates the robust confidence that fixed-income issuers have in our flourishing debt capital market. At the same time, we are delighted to be offering market participants a greater range of securities on our exchange as part of our ‘ADX One’ strategy to enhance market liquidity and attract more international investors.”
Jasim Husain Thabet, TAQA’s Group Chief Executive Officer and Managing Director, commented: “The listing of nine TAQA-issued bonds on Abu Dhabi Securities Exchange (ADX) is an important milestone for both organizations as it provides additional liquidity for local and regional investors and strengthens Abu Dhabi’s debt capital market. TAQA is proudly an Abu Dhabi-based company – a market critical to our strategy for growth. Extending investment opportunities to our stakeholders across the Emirate will contribute to the development of the local capital markets at a time when the UAE is experiencing stable economic growth year on year. With our strong balance sheet and our growth ambitions, we believe that TAQA continues to create value in the Emirate through a thriving utilities sector.”
For more information, please contact:
Abdulrahman Saleh ALKhateeb
Manager of Corporate Communication & Digital Marketing
About Abu Dhabi Securities Exchange
Abu Dhabi Securities Exchange (ADX) was established on November 15 of the year 2000 by Local Law No. (3) Of 2000, the provisions of which vest the market with a legal entity of autonomous status, independent finance and management. The Law also provides ADX with the necessary supervisory and executive powers to exercise its functions. On 17th March 2020, ADX was converted from a "Public Entity" to a "Public Joint Stock Company PJSC" pursuant to law No. (8) of 2020. ADX is part of ADQ, one of the region's largest holding companies with a broad portfolio of major enterprises spanning key sectors of Abu Dhabi's diversified economy.
ADX is a market for trading securities; including shares issued by public joint stock companies, bonds issued by governments or corporations, exchange traded funds, and any other financial instruments approved by the UAE Securities and Commodities Authority (SCA). ADX is the second largest market in the Arab region and its strategy of providing stable financial performance with diversified sources of incomes is aligned with the guiding principles of the UAE "Towards the next 50" agenda. The national plan charts out the UAE's strategic development scheme which aims to build a sustainable, diversified and high-value added economy that positively contributes to transition to a new global sustainable development paradigm.
Established in 2005, TAQA is a diversified utilities and energy group headquartered in Abu Dhabi, the capital of the United Arab Emirates, and listed on the Abu Dhabi Securities Exchange (ADX: TAQA). TAQA has significant investments in power and water generation, transmission and distribution assets, as well as upstream and midstream oil and gas operations. The company's assets are in the United Arab Emirates as well as Canada, Ghana, India, Iraq, Morocco, Oman, the Netherlands, Saudi Arabia, the United Kingdom and the United States. For more information, please visit: www.taqa.com and follow us @TAQAGroup on LinkedIn, Twitter, Instagram and YouTube.