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Islamic Finance Briefing - Categorized | Financial Instruments (Credit Cards, Debts, Loans, Mort more

TAQA buyback shows Gulf appetite for debt management

Posted on 24 November 2011

Abu Dhabi National Energy Co’s (TAQA) move to buy back $1.5 billion in bonds from investors — at a juicy premium — will help the company manage its debt levels at a time of increasingly expensive bank loans, but lower-rated Gulf corporates may struggle to follow a similar strategy.
A-rated TAQA, 75 percent owned by the government of Abu Dhabi, launched a tender offer this week to buy back its bonds maturing in 2012, and enlisted banks to arrange a possible new bond issue under its global programme………………………………………..Full Article: Source

 
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