Hotel occupancy rates at 80% were the highest in the region
business3 days ago
Abu Dhabi National Energy Company (Taqa), plans to price a $1.5 billion two-tranche bond on Monday, amid strong demand, a bank document showed.
Guidance for the long five-year tranche, expected to be $500 million in size, was tightened to 90 basis points over Treasuries from earlier indications of 120 bps as order books reached over $5.5 billion.
A 10-year green bond issue is expected to be $1 billion in size with price guidance at 120 basis points over Treasuries, 25 bps tighter than initially indicated, with over $6.1 billion in orders.
Taqa, an integrated utility company majority-owned by the Abu Dhabi government, mandated banks last week for the senior, unsecured bond issue following an earlier launch of its green finance framework.
Proceeds from the five-year tranche will be used for general corporate purposes while the 10-year green bond will be used to finance projects as set out in the framework.
BNP Paribas, Emirates NBD Capital, First Abu Dhabi Bank, HSBC, ICBC, IMI-Intesa Sanpaolo, Scotiabank, SMBC Nikko and Standard Chartered Bank are mandated bookrunners and lead managers.
First Abu Dhabi Bank, HSBC, and Standard Chartered Bank are joint green structuring advisers.
Hotel occupancy rates at 80% were the highest in the region
business3 days ago
GCC banks have consistently maintained a higher return on equity
business3 days ago
FCA asks senior leaders to take personal responsibility for ensuring rules have been complied with
business3 days ago
The deal has come under increasing criticism from U.S. politicians
business3 days ago
Several checks and balances are already in place to monitor overseas investments
business4 days ago
A spokesman for the brand, part of Volkswagen group , on Tuesday described Longo as a person of 'great integrity, culture, capability and sensitivity'
business4 days ago
A common challenge for businesses is determining the commencement of their first tax period
business5 days ago
ADIB’s rating has been elevated to AA from A in the annual update
business5 days ago