Taqa shares soar on $750m senior notes placement
- United Arab Emirates: Wednesday, December 12 - 2012 at 15:06
The ADX General Index lost half a percentage point Wednesday, finishing at 2,603.64. Investors continued to dump market heavyweight Etisalat. The UAE's first telecom operator closed off 2.90%, finishing near a five-month low at Dhs8.95 due to disappointment over royalty rates revised by the UAE ministry of finance last Monday. Abu Dhabi National Energy Co. or Taqa jumped 2.94% to reach Dhs1.40, the highest level since May 8 2011. In a e-statement to the ADX, Taqa said it has finalized the issuance of $750m, 2.50% senior notes due in Jan. 2018 and $1.25bn of 3.625% senior notes due in Jan 2023. The proceeds of the issuances will be used for reducing debt and for general business purposes, said Taqa.
- RAKBANK's CEO-elect resigns
- Kenya Airways to launch Nairobi-Abu Dhabi service
- Dubai, Qatar in 'better position' to be...
- Arabtec workers stage strike in Abu Dhabi, Dubai
- Riyadh metro's ultra-modern designs revealed
- OMRAN drives new tourism projects in Oman
The information comprised in this section is not, nor is it held out to be, a solicitation of any person to take any form of investment decision. The content of the AMEinfo.com Web site does not constitute advice or a recommendation by AME Info FZ LLC / 4C and should not be relied upon in making (or refraining from making) any decision relating to investments or any other matter. You should consult your own independent financial adviser and obtain professional advice before exercising any investment decisions or choices based on information featured in this AMEinfo.com Web site.
AME Info FZ LLC / 4C can not be held liable or responsible in any way for any opinions, suggestions, recommendations or comments made by any of the contributors to the various columns on the AMEinfo.com Web site nor do opinions of contributors necessarily reflect those of AME Info FZ LLC / 4C.
In no event shall AME Info FZ LLC / 4C be liable for any damages whatsoever, including, without limitation, direct, special, indirect, consequential, or incidental damages, or damages for lost profits, loss of revenue, or loss of use, arising out of or related to the AMEinfo.com Web site or the information contained in it, whether such damages arise in contract, negligence, tort, under statute, in equity, at law or otherwise.