DUBAI, April 17 (Reuters) - Abu Dhabi National Energy
Company, known as TAQA , plans to price a two-tranche
bond on Monday, a bank document showed, and has released initial
price guidance for the long five-year and 10-year green bond.
Initial guidance on the long five-year tranche was around
120 basis points over Treasuries and for the 10-year portion at
around 145 basis points over Treasuries. Both tranches are
expected to be benchmark-sized, or at least $500 million.
TAQA, an integrated utility company which is 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 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.
(Reporting by Rachna Uppal, Editing by Louise Heavens)
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