Abu Dhabi National Energy Company (Taqa), one of the largest listed integrated utilities in Europe, the Middle East, and Africa, announced on Thursday that it has secured an AED 8.5 billion corporate term loan facility.
The facility is a two-year UAE dirham-denominated floating-rate loan, with a one-year extension option. Taqa plans to utilize the facility gradually. Emirates NBD and First Abu Dhabi Bank were appointed by Taqa to jointly act as bookrunner, mandated lead arranger, and coordinator, while Mashreq acted as mandated lead arranger for the term loan facility. The use of dirham funding aligns with the group’s dirham-based income profile and benefits from strong local liquidity, with Eibor offering a cost advantage over international benchmarks.
The transaction enhances funding options, diversifies liquidity sources, and supports ongoing efforts to optimize the Group’s capital structure and maintain the financial flexibility required to deliver on Taqa’s long-term growth strategy.
Jasim Husain Thabet, Taqa’s group chief executive officer and managing director, stated: “Securing this facility marks another step in delivering on Taqa’s long-term growth strategy, reinforcing our ability to maintain a strong and flexible balance sheet to support future investments. This facility demonstrates our ability to access competitive funding in our domestic currency, while retaining the ability to draw down in line with our capital and investment needs. The terms reflect the strength of our credit profile and the trust placed in us by our banking partners, ensuring we have the right financial foundations to continue delivering reliable and sustainable power and water to the communities we serve.”
The facility offers Taqa greater financial flexibility compared to other available sources of funding, allowing drawdowns to be aligned with the Group’s cash flow and investment schedule. The two-year tenor also aligns well with Taqa’s maturity profile, as the group has no corporate debt maturities scheduled in 2027.
This facility complements Taqa’s existing corporate funding framework, which includes a $20 billion global medium-term note (GMTN) program and a $3.5 billion revolving credit facility. Together, these instruments provide the group with a well-balanced and diversified capital structure that supports both operational resilience and future growth. The facility also reinforces Taqa’s financial readiness as it continues to execute on a strategic investment program spanning domestic and international growth opportunities across power, water, and low-carbon energy.
