DUBAI - Abu Dhabi National Energy Company (TAQA), owned by Abu Dhabi state-owned holding company ADQ, has hired banks to arrange a dual-tranche bond issuance comprising a seven-year tranche and 30-year Formosa paper, a document showed on Monday.
It also announced a tender offer for 3.625% notes due in 2021 and 5.875% paper also due this year, as well as 3.625% notes due in 2023, the document from one of the banks on the deal showed.
Citi and HSBC were hired as global coordinators for the new bonds. They will hold investor calls starting on Monday, along with Bank of China, First Abu Dhabi Bank, HSBC, Mashreq, Mizuho and MUFG. An bond issue will follow, subject to market conditions.
BNP, HSBC, MUFG and SMBC Nikko are arranging the tender offer.
(Reporting by Yousef Saba, editing by Louise Heavens) ((Yousef.Saba@thomsonreuters.com; +971562166204; https://twitter.com/YousefSaba))