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ABU DHABI / WAM
The Abu Dhabi National Energy Company, TAQA, finalised the issuance of US$500 million 3.625% senior notes due in June 2021 and US$500 million 4.375% senior notes due in June 2026. The proceeds of this issuance will be used for general corporate purposes and to pay back the US$1 billion bond maturing in October 2016. The lower interest rates will reduce TAQA’s corporate financing costs.