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Abu Dhabi National Energy talks three-tranche benchmark offer
By Aaron Hochman-Zimmerman
New York, July 23 - Abu Dhabi National Energy Co., known as Taqa, (Aa2/AA-) released talk for its dollar-denominated benchmark-sized senior unsecured notes, according to a market source.
The five-year notes were talked in the Treasuries plus 325 basis point area.
The 10-year notes were talked in the Treasuries plus 325 bps area.
The 30-year notes were talked in the Treasuries plus 340 bps area.
Barclays, National Bank of Abu Dhabi and RBS will act as bookrunners for the Rule 144A and Regulation S deal.
Proceeds from the sale will be used to refinance outstanding debt.
Taqa is an Abu Dhabi-based energy firm.
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