Business
SNG: TAQA secures $2.3bln loan with participation of 3 UAE-listed banks
SNG: TAQA secures $2.3bln loan with participation of 3 UAE-listed banks
About this update from Taqa Arabia
Staff WriterAbu Dhabi National Energy Company (TAQA) has secured an AED 8.50 billion corporate term loan facility to strengthen its balance sheet and support long-term growth.The two-year AED-denominated floating-rate facility, with a one-year extension option, will be utilized in phases to align with the group’s capital and investment plans, according to a press release.Emirates NBD and FAB acted as joint bookrunners, mandated lead arrangers, and coordinators, while Mashreq Bank served as mandated lead arranger.The transaction will improve funding flexibility, diversify liquidity sources, and optimize its capital structure.Jasim Husain Thabet, CEO and Managing Director of TAQA, said: “Securing this facility marks another step in delivering on TAQA’s long-term growth strategy, reinforcing our ability to maintain a strong and flexible balance sheet to support future investments.”“This facility demonstrates our ability to access competitive funding in our domestic currency, while retaining the ability to draw down in line with our capital and investment needs,” he added.The CEO concluded: “The terms reflect the strength of our credit profile and the trust placed in us by our banking partners, ensuring we have the right financial foundations to continue delivering reliable and sustainable power and water to the communities we serve.”The facility adds to TAQA’s $20 billion bond program and $3.50 billion credit line, strengthening its capacity to fund domestic and international investments in power, water, and low-carbon energy.In the first half (H1) of 2025, TAQA generated net profits after tax valued at AED 3.93 billion, versus AED 4.76 billion in H1-24.All Rights Reserved - Mubasher Info © 2005 - 2025 Provided by SyndiGate Media Inc. (Syndigate.info).Disclaimer: The content of this article is syndicated or provided to this website from an external third party provider. We are not responsible for, and do not control, such external websites, entities, applications or media publishers. The body of the text is provided on an “as is” and “as available” basis and has not been edited in any way. Neither we nor our affiliates guarantee the accuracy of or endorse the views or opinions expressed in this article. Read our full disclaimer policy here.