New Issue: Abu Dhabi National Energy prices $750 million 3 7/8% notes due 2024 at 115 bps spread

By Christine Van Dusen

Atlanta, April 29 - Abu Dhabi National Energy Co. PJSC (TAQA) priced $750 million 3 7/8% 10-year notes (expected ratings: A3/A-/) at 99.369 to yield mid-swaps plus 115 basis points, a syndicate source said.

The notes were talked at a spread in the 135 bps area.

BofA Merrill Lynch, Mitsubishi UFJ Securities, RBS, Societe Generale CIB and Standard Chartered Bank were the bookrunners for the Rule 144A and Regulation S deal.

Issuer:	Abu Dhabi National Energy Co. PJSC (TAQA)
Amount:	$750 million
Maturity:	May 6, 2024
Description:	Notes
Bookrunners:	BofA Merrill Lynch, Mitsubishi UFJ Securities, RBS, Societe Generale CIB, Standard Chartered Bank
Coupon:	3 7/8%
Price:	99.369
Spread:	Mid-swaps plus 115 bps
Trade date:	April 29
Settlement date:	May 6
Expected ratings:	Moody's: A3
	Standard & Poor's: A-
Distribution:	Rule 144A and Regulation S
Price talk:	Mid-swaps plus 135 bps area

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