Update: Taqa denies plan to market bond offering

Abu Dhabi National Energy Company (Taqa) on Tuesday confirmed the company is not currently marketing any bond offering.

Taqa's statement came in the wake of a Reuters report earlier on Tuesday that said Taqa has started investor meetings to raise at least $1 billion in bonds to finance investments and repay debt due next year.

In the statement, Taqa said it has no refinancing requirement until the middle of 2010, adding that it is constantly reviewing its financing to ensure it has the optimum structure in place.