Abu Dhabi's TAQA launches $2 billion of notes due 2018, 2023

By Aleesia Forni

Columbus, Ohio, Dec. 5 - Abu Dhabi National Energy Co. (TAQA) launched $2 billion of notes on Wednesday, according to a market source.

A $750 million tranche of notes due 2018 launched at 200 basis points over Treasuries.

There was also a $1.25 billion tranche of notes due 2023. The notes launched at Treasuries plus 210 bps.

The company held a roadshow from Dec. 3 to Dec. 4.

BNP Paribas, Citigroup, HSBC, National Bank of Abu Dhabi and Standard Chartered are the bookrunners for the deal, which is expected to price by the end of the year.

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