"energy" You get a loan of 8.5 billion dirhams to support its growth strategy
Abu Dhabi, August 21/ WAM/ The National Energy National Energy Company announced that it has obtained an institutional loan worth 8.5 billion dirhams, while this deal confirms the commitment of “energy” to maintain a strong and flexible capital structure to support its long -term growth strategy, and planning capital expenditures.
The financing deal is a two -year loan in the UAE dirham at a variable interest rate, with an option to extend for an additional year, and the company intends to benefit from it in stages. “Taqah” had mandated the Emirates NBD and “Abu Dhabi First Bank” to work together as managers for subscription and the main commissioned and coordinator, while the “Mashreq” bank assumed the role of the main domain organizer.
The use of financing in the dirhams in the Emirati is in line with the structure of the group’s revenue in the UAE dirham, and benefits from the strong levels of liquidity in the local financial market, as the interest rate between Emirati banks “Iber” provides a less cost advantage compared to international reference indicators.
This deal reinforces financing options and diversified sources of liquidity with the company, and supports continuous efforts to improve the group’s capital structure and maintain its financial flexibility to implement its long -term growth strategy.
Jassim Hussein Thabet, CEO of the group and the managing director of “Taqah”, said that obtaining this loan is another step in the “Taqah” march towards implementing its strategy for long -term growth, and enhances its ability to maintain a strong and flexible capital structure that supports future investments.
He added that this financing reflects the ability of “energy” to obtain financing at competitive prices and in the local currency, while maintaining the ability to withdraw according to its capitalist and investment needs.
He explained that the conditions of this financing reflect the strength of the credit “energy” classification and the confidence that its partners granted in the banking sector, in a way that ensures that it has the proper financial foundations to continue its work and provide electricity and water services reliably and sustainable to the societies in which they work.
This financing provides greater financial flexibility for “TATA” compared to other available financing sources, as it is allowed to withdraw according to the needs of cash flows and the requirements of its investment schedule.
The loan period – two years, is well in line with the debt entitlement schedule at “Energy”, as the group does not have institutional debt entitlements in 2027.
This funding is integrated with the institutional financing framework currently applied by the company, which includes the “TATA” program for medium -term global bonds worth $ 20 billion, and repeated credit facilities worth $ 3.5 billion.
These financial tools combined, providing the group with a balanced and diversified capital structure that supports flexibility in operational operations and future growth.
This funding is enhanced by the company’s financial readiness at a time when it continues to implement its strategic investment program, which covers growth opportunities locally and internationally within the electricity, water, and low -carbon energy sectors.
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