Abu Dhabi's TAQA signs yen loan to help repay upcoming debt

DUBAI, April 17 Thu Apr 17, 2014 3:13am EDT

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DUBAI, April 17 (Reuters) - Abu Dhabi National Energy Co (TAQA) said on Thursday it had signed a 20.5 billion yen ($200.4 million) loan with Bank of Tokyo-Mitsubishi which would be used to refinance an existing obligation.

The majority state-owned energy firm said it had swapped the loan, priced at 60 basis points over Japanese Libor, into U.S. dollars and would use the funds to refinance a portion of a $1.2 billion bond which is due to mature in September. ($1 = 102.2750 Japanese Yen) (Reporting by David French; Editing by Andrew Torchia)

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