Ruwais Power Company issues US$825 million bond - Business Intelligence Middle East - bi-me.com - News, analysis, reports:
"TAQA, the global energy company from Abu Dhabi, has announced that the Ruwais Power Company power and desalination plant (Shuweihat 2) has completed an issuance of USD 825 million in project bonds.
The plant, which is 54% owned by TAQA, issued the bonds at a coupon of 6% with a final maturity in August 2036 and an average life of 21.5 years.
Stephen Kersley, Chief Financial Officer at TAQA, said: “We are pleased to have reached a successful execution of the Shuweihat 2 bond transaction in the face of a difficult market environment. Strong support from our key investors allowed us to build a substantial order book and achieve an attractive coupon of 6 per cent. This transaction not only increases the returns to TAQA for this project, but is also the first step in building an active and liquid project bond market in the region.”"
'via Blog this'
No comments:
Post a Comment