RLPC-Taqa's $3.1 bln loan pays LIB+27.5 bps margin

LONDON Jan 15 (Reuters) - The $3.1 billion, one-year syndicated revolving credit for Gulf Arab utility Taqa pays a margin of 27.5 basis points over LIBOR, bookrunners Bank of Tokyo-Mitsubishi UFJ, Barclays, BNP Paribas, Citigroup and Royal Bank of Scotland announced on Tuesday.

The multi-currency debut deal was signed on Jan. 10 and may be increased to $5 billion via a limited syndication aimed at expanding the core group of relationship banks, the banks added. State-owned Taqa, or Abu Dhabi National Energy Co, will use the deal as a corporate liquidity line.

Bank of Tokyo-Mitsubishi UFJ also acted as co-ordinator and documentation bank and is the agent for the facility.

Taqa operates six power generation and water desalination plants in the UAE. It is rated Aa2 by Moody's and AA- by Standard & Poor's. (Reporting by Christopher Mangham, editing by Will Waterman)