Abu Dhabi utility giant Taqa has secured a Dh8.5 billion term loan facility to support its ongoing expansion, both within the UAE and internationally.
The two-year, dirham-denominated floating-rate loan includes a one-year extension option and will be drawn down gradually. Taqa said the structure aligns with its dirham-based income profile while benefiting from strong local liquidity and favorable EIBOR rates compared to international benchmarks.
The company added that the financing strengthens its funding options, diversifies liquidity sources, and enhances financial flexibility as it pursues growth in power, water, and low-carbon energy. Taqa’s existing funding framework includes a $20 billion Global Medium Term Note program and a $3.5 billion revolving credit facility.
“This facility demonstrates our ability to access competitive funding in our domestic currency while retaining flexibility to meet our capital and investment needs,” said Jasim Husain Thabet, Taqa’s Group CEO and Managing Director. “The terms reflect our strong credit profile and the trust placed in us by our banking partners.”
The loan was arranged with Emirates NBD Bank and First Abu Dhabi Bank acting as joint bookrunners, mandated lead arrangers, and coordinators. Mashreq Bank participated as mandated lead arranger.
