The Abu Dhabi National Energy Company PJSC (Taqa) has listed its $1.5 billion dual-tranche bonds on the Abu Dhabi Securities Exchange (ADX) main market. The bonds consist of a five-year $500 million issuance maturing in 2029 with a 4.375 percent coupon and a ten-year $1 billion issuance maturing in 2033 with a 4.696 percent coupon, paying bondholders semi-annually. Notably, the ten-year tranche is Taqa’s first green bond issuance, with the proceeds earmarked for financing, refinancing, and investing in eligible green projects aligned with Taqa’s Green Finance Framework. These bonds are now listed on both ADX and the London Stock Exchange, contributing to a total of 44 debt instruments listed on ADX. The strong demand during issuance, nearly 10 times oversubscribed with total orders exceeding $15 billion, reflects investor confidence in Taqa and Abu Dhabi’s economic outlook.
Jasim Husain Thabet, Taqa’s Group CEO and Managing Director, highlighted the importance of green finance and decarbonization projects, emphasizing Taqa’s commitment to sustainable practices and its goal to be a leader in green financing in the region. The bonds received strong credit ratings from Moody’s (Aa3) and Fitch (AA-), reflecting Taqa’s financial strength and Abu Dhabi’s solid macroeconomic fundamentals. This listing aligns with ADX’s efforts to diversify and expand its offerings, particularly in the green finance and sustainability space.
