Taqa denies marketing bond offerings

Abu Dhabi National Energy Company (Taqa) said it is not “currently marketing” any bond offerings and has no financing requirements until the middle of 2010, Bloomberg News said yesterday quoting the company.

Quoting an unidentified company executive earlier yesterday, Reuters said Taqa has started investor meetings to raise  $1 billion (Dh3.6bn) in bonds to finance investments and repay debt due next year.

The company had started a roadshow which had been received “very well”, the executive said. Taqa is 75 per cent owned by Abu Dhabi.

 

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