Taqa picks banks for potential bond sale
Abu Dhabi, November 29, 2012
Abu Dhabi National Energy Co (Taqa), the state-owned firm which is buying a number of BP's North Sea assets, has hired five banks to arrange investor meetings ahead of a potential benchmark-size bond sale, lead arrangers said.
Taqa, in which the Abu Dhabi government owns a majority stake, picked BNP Paribas, Citigroup, HSBC Holdings, National Bank of Abu Dhabi and Standard Chartered to arrange investor meetings in Asia, London, and the United States.
A potential benchmark-size dollar-denominated bond may follow after investor meetings, a document from lead arrangers said on Thursday.
Benchmark-size offerings are typically at least $500 million in size. On Wednesday, Taqa said it was buying some of BP's North Sea assets for over $1.3 billion. - Reuters
More Energy, Oil & Gas Stories
- Oil prices set for biggest weekly loss
- Egypt to issue smart cards to fuel stations
- Oil hits three-week low
- Yokogawa-Petrobras in wireless deal
- Technip wins Adma-Opco contract
- Brent weakens towards $102
- ASAR named legal advisor for Kuwait project
- BP to invest $2.85bn in Iraq's largest oilfield
- 200 firms gear up for Saudi Energy
- Siemens wins $266m jobs from Saudi Electricity