| 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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