Abu Dhabi National Energy Company (TAQA) priced a $1.75 billion dual-tranche bond offering that was oversubscribed by more than three times, Gulf Daily News reported. The transaction includes $1.1 billion in five-year green notes maturing on April 26, 2032, with a coupon of 5.875%, and $650 million in 10-year conventional notes maturing on October 26, 2036, carrying a coupon of 6.125%. Settlement is scheduled for October 26, 2026.
TAQA stated that strong participation from domestic, regional, and international investors underscored confidence in its credit standing and long-term corporate strategy. The transaction represents the first public benchmark bond offering from an Abu Dhabi government-related entity (GRE) since March 2026.
Proceeds from the green notes will be allocated to finance or refinance eligible renewable generation and power grid projects under TAQA's Green and Blue Finance Framework. Funds generated from the conventional tranche will support general corporate operations, advancing TAQA's 2030 Vision for Sustainable and Profitable Growth after approximately $10 billion in energy transition investments between 2021 and 2025.
The transaction follows TAQA's $750 million blue bond issued in July 2026. Upon settlement, TAQA's cumulative green- and blue-labelled bond issuances since 2023 will total $3.7 billion, of which $1.85 billion was raised in 2026. The notes are expected to receive credit ratings of Aa3 from Moody's and AA from Fitch, matching TAQA's issuer ratings, and will be listed on the London Stock Exchange.
The debt issuance was managed by nine joint bookrunners and lead managers: Industrial and Commercial Bank of China, Abu Dhabi Commercial Bank, Citi, Emirates NBD Capital, First Abu Dhabi Bank, HSBC, J.P. Morgan, Mashreq, and Standard Chartered Bank.
Sources
- Gulf Daily News (Bahrain) · 2026-10-26
