Cautionary note from Taqa as it begins bond roadshow | The National:
"Tough competition for the most qualified Emiratis could hamper Abu Dhabi National Energy, the oil, gas and power producer warned in a bond prospectus yesterday.
Taqa launched meetings yesterday with global fixed-income investors for a planned bond that would be used to pay off a US$1.2 billion bond maturing in September. It secured a $200 million samurai loan earlier this month to go towards the refinancing.
The company issued a 180 million euro, 10-year bond in a private placement arranged by Societe Generale, Taqa confirmed yesterday. The coupon was 2.75 per cent.
Among the risks Taqa outlined in the new prospectus was keeping up with Emiratisation targets."
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