Abu Dhabi National Energy Company (TAQA) has secured an AED 8.5 billion (US$2.31 billion) corporate term loan facility that will help the company maintain a strong and flexible balance sheet while supporting its long-term growth strategy and capital planning.
The facility is a two-year AED-denominated floating-rate loan, with a one-year extension option. TAQA intends to utilise the funds over time in a phased manner. The use of AED funding aligns with the Group’s dirham-based income profile and benefits from strong local liquidity, with EIBOR offering a cost advantage over international benchmarks.
The two-year tenor also aligns well with TAQA’s maturity profile, as the Group has no corporate debt maturities scheduled in 2027.
The transaction enhances funding optionality, diversifies liquidity sources, and supports ongoing efforts to optimise the Group’s capital structure and maintain the financial flexibility required to deliver on its long-term growth strategy.
Jasim Husain Thabet, TAQA’s Group Chief Executive Officer and Managing Director, commented: “Securing this facility marks another step in delivering on TAQA’s long-term growth strategy, reinforcing our ability to maintain a strong and flexible balance sheet to support future investments.
“This facility demonstrates our ability to access competitive funding in our domestic currency, while retaining the ability to draw down in line with our capital and investment needs. The terms reflect the strength of our credit profile and the trust placed in us by our banking partners, ensuring we have the right financial foundations to continue delivering reliable and sustainable power and water to the communities we serve.”
It also complements TAQA’s existing corporate funding framework, which includes a US$20 billion Global Medium Term Note (GMTN) programme and a US$3.5 billion revolving credit facility.
Together, these instruments provide the Group with a well-balanced and diversified capital structure that supports both operational resilience and future growth.
Emirates NBD Bank and First Abu Dhabi Bank were mandated by TAQA to act jointly as Bookrunner, Mandated Leader Arranger and Coordinator, while Mashreq Bank acted as Mandated Lead Arranger for the term loan facility.
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