Abu Dhabi:The Abu Dhabi National Energy Company PJSC (TAQA) has successfully priced a dual-tranche bond offering, which includes 5-year green notes and 10-year conventional notes, showcasing strong investor confidence.
According to Wam, the bond offering experienced high demand from domestic, regional, and international investors, with the orderbook being more than three times oversubscribed. This oversubscription indicates investor confidence in TAQA's credit quality and its long-term strategic vision.
This bond issuance marks the first public benchmark from an Abu Dhabi Government-Related Entity (GRE) since March 2026. It highlights sustained investor interest in Abu Dhabi's high-quality credit and the Group's capability to secure competitive funding across varying market conditions.
The green tranche is aimed at financing or refinancing eligible renewable energy generation and green grid projects, aligning with TAQA's Green and Blue Finance Framework. This framework includes network infrastructure as a permitted use of proceeds and reflects the Climate Finance Principles for Green Grids, as supported by the COP30 Presidency and the Utilities for Net Zero Alliance (UNEZA).
The proceeds from the conventional tranche will be allocated for general corporate purposes. Both tranches contribute significantly to TAQA's 2030 Vision for Sustainable and Profitable Growth. Under this vision, TAQA has invested nearly US$10 billion in energy transition projects from 2021 to 2025.
The transaction follows a previous issuance by TAQA of a US$750 million Blue Bond in July 2026, noted as the largest Blue Bond issued by an integrated power and water utility globally and within the EMEA region. Upon settlement, TAQA will have issued US$3.7 billion in Green and Blue labelled bonds since 2023.
The bond notes, expected to be rated Aa3 by Moody's and AA by Fitch, will be listed on the London Stock Exchange. The US$1.75 billion offering consists of US$1.1 billion in green notes maturing in April 2032 with a 5.875 percent coupon, and US$650 million in conventional notes maturing in October 2036 with a 6.125 percent coupon. The issuance was managed by a consortium of leading financial institutions, including Citi, HSBC, and Standard Chartered Bank, among others.
Jasim Husain Thabet, Group CEO and Managing Director of TAQA, emphasized the significance of investor confidence in the company's financial strength and strategic objectives, particularly in renewable energy and sustainable infrastructure.