Taqa signs $2bn bond

26 October 2007
Abu Dhabi National Energy Company (Taqa) has completed a $2,000 million bond issue, split between a $1,500 million bond at 5.62 per cent due in 2012 and a $500 million bond at 6.165 per cent due in 2017.

The company says it will use the proceeds to finance acquisitions, including the purchase of Canada' PrimeWest Energy Trust for $5,000 million, announced in late September, and the $540 million purchase of Pioneer Natural Resources Canada.

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