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Abu Dhabi's Ruwais Power sets initial talk in 6¼% area for dollar notes due 2036
By Christine Van Dusen
Atlanta, July 23 - Abu Dhabi-based Ruwais Power Co. PJSC - a consortium led by Abu Dhabi National Energy Co. (TAQA) - set initial price talk in the 6¼% area for its upcoming offering of dollar-denominated notes (A3), a market source said.
The issue will total no more than $825 million in notes due Aug. 31, 2036.
Citigroup, BNP Paribas, HSBC, Mitsubishi UFJ Securities, National Bank of Abu Dhabi and Standard Chartered Bank are the bookrunners for the Rule 144A and Regulation S deal.
The proceeds will be used to finance the Shuweihat 2 independent water and power project.
The deal is expected to price on Thursday.
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