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Global market volatility stalls TAQA Sukuk offering

Posted on 17 October 2011

Following its announcement earlier this month that the Abu Dhabi National Energy Company (TAQA) “is setting up a RM3.5 billion sukuk program to diversify funding sources” the issuance process is likely to take much longer given the prevailing volatile market conditions as a result of the fallout of the euro zone sovereign debt crisis and the downgrading of the US credit rating by Moody’s Investors Service.
Mohammed Mubaideen, investor relations manager, TAQA, confirmed that the (issuance) process is in early stages and the above announcement was made “to meet regulatory requirements……………………………………….Full Article: Source

 
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