Abu Dhabi’s TAQA prices $215 mln ringgit Islamic bond
DUBAI, (Reuters) – Abu Dhabi National Energy Co (TAQA) priced a 650 million Malaysian ringgit-denominated Islamic bond, or sukuk, the company said in a statement on Sunday.
The ten-year sukuk, which is worth the equivalent of $215 million, carried a 4.65 percent profit rate, the statement added.
Standard Chartered was the lead arranger for the sukuk.
The sukuk was part of the firm’s 3.5 billion Malaysian ringgit sukuk programme, which was established late last year.