Taqa Raises 650 Million Ringgit From Islamic Bond Sale

Abu Dhabi National Energy Co., the utility known as Taqa, said it raised 650 million ringgit ($215 million) from the sale of Islamic bonds.

The 10-year sukuk was sold at a profit rate of 4.65 percent, the company said in a statement to the Abu Dhabi bourse today. Standard Chartered Saadiq Berhad was the lead arranger for the transaction.

The bonds were part of the 3.5 billion ringgit program the company set up in November.

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