Taqa obtains Dh735 million yen loan

Abu Dhabi National Energy Co. (Taqa) said on Thursday it had signed a ¥20.5 billion ($200.4 million; Dh735.5 million) loan with Bank of Tokyo-Mitsubishi which would be used to refinance an existing obligation.

The majority state-owned energy firm said it had swapped the loan, priced at 60 basis points over Japanese Libor, into US dollars and would use the funds to refinance a portion of a $1.2 billion bond which is due to mature in September.