Banks Appointed to Manage TAQA's US Securities Offering
What happened
TAQA launched a transaction on October 19, comprising a 5-year and 10-year tranche of senior unsecured notes. Nine financial institutions were appointed as joint bookrunners and joint lead managers for the offering. Abu Dhabi Commercial Bank, HSBC, Citi, Emirates NBD Capital, First Abu Dhabi Bank, Industrial and Commercial Bank of China, JPMorgan, Mashreq, and Standard Chartered Bank were appointed to manage the offering. Citi, HSBC, and Standard Chartered Bank are also serving as joint green structurers for the transaction.
From thearabianpost.com
Why it matters
The offering is structured under Rule 144A and Regulation S, allowing the securities to be marketed to qualified institutional buyers in the United States. The transaction involves both conventional and green securities, following a similar dual-tranche placement by TAQA in October 2024. This large-scale issuance highlights significant capital market activity in the region.
From thearabianpost.com
Who's involved
- Abu Dhabi Commercial BankJoint bookrunner and lead manager for TAQA's senior unsecured notes.
- HSBCJoint bookrunner and joint green structurer for TAQA's securities.
- MashreqJoint bookrunner in the TAQA bond placement.
- Industrial and Commercial Bank of ChinaJoint bookrunner in TAQA's bond issuance.
- First Abu Dhabi BankJoint bookrunner in TAQA's bond issuance.
- Standard CharteredJoint bookrunner and joint green structurer for TAQA.
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The entities involved
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Abu Dhabi Commercial Bank
bank in the United Arab Emirates
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