TAQA eyes $1 bln bond sale

Abu Dhabi National Energy Co (TAQA) has started investor meetings to raise at least $1 billion in bonds to finance investments and repay debt due next year, a company executive said on Tuesday.

TAQA is 75 percent owned by the government of Abu Dhabi and is one of the vehicles the emirate uses to invest oil money. Abu Dhabi holds most of the oil reserves and wealth in the United Arab Emirates.

The company had started a roadshow which had been received "very well", the executive said.