A banking document showed today, Monday, that the Abu Dhabi National Energy Company "Taqa" is planning to issue two tranches of bonds, announcing the initial price guidance for green bonds with maturities of five and ten years. The company has reduced the initial price guidance for the five-year tranche from 120 basis points over U.S. Treasury bonds to 90 basis points after the order book exceeded $5.5 billion. The tranche is expected to be of standard size or at least $500 million.
It is anticipated that the size of the ten-year green bond issuance will reach $1 billion at an initial price guidance of 120 basis points over Treasury bonds, which is 25 basis points lower than previously mentioned, with the order book surpassing $6.1 billion. The proceeds from the five-year tranche will be directed to the company's general purposes, while the ten-year green bonds will be used to finance projects specified in the framework.
