State-run Abu Dhabi National Energy Co (TAQA) aims to raise at least $1 billion from a two-tranche bond sale pricing on Monday, lead arrangers said, to help refinance debt maturing next year.
TAQA, which is 75 percent owned by the government of Abu Dhabi, last month said it would buy back a $1.5 billion bond maturing October 2012 and enlisted four banks to sell new debt.
Guidance for the long five-year tranche maturing 2017 is set at 350 basis points over 5-year U.S. Treasuries and 412.5 bps over 10-year Treasuries for the portion maturing 2021.
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