TAQA plans to tap bonds market to manage maturities, Capex expected below guidance
Abu Dhabi National Energy Co (TAQA) plans to return to the bond market later this year or early 2017 to manage maturing debt. TAQA has a USD750mn bond due in March 2017 and another USD500mn bond in October 2017. Asked by analysts if TAQA's capital expenditure guidance of AED1.8bn announced at the start of the year would remain unchanged, the company’s chief financial officer Grant Gillon told analysts on a conference that it would "certainly come below” that figure. (Reuters)
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