Abu Dhabi National Energy Co., the state-run utility known as TAQA, is in talks with banks to raise about $3 billion of loans to refinance an existing credit line, according to four people with knowledge of the negotiations.
TAQA is seeking a facility of three to five years, said two of the people, who declined to be identified because the discussions are private. The company has not yet hired banks, according to the people.
Proceeds will replace a $3.15 billion revolving credit that matures next year, the people said.
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