December 5, 2012 / 12:00 PM / 5 years ago

Abu Dhabi's TAQA launches two-tranche $2 bln bond - leads

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DUBAI, Dec 5 (Reuters) - Abu Dhabi National Energy Co (TAQA) launched a $2 billion two-part bond on Wednesday, arranging banks said, with final pricing tighter than earlier indicated due to strong demand for the deal.

The company, 75-percent owned by the Abu Dhabi government, will sell a $750 million bond maturing 2018 at a spread of 200 basis points over U. S. Treasuries and a $1.25 billion bond maturing 2023 at 210 basis points over U. S. Treasuries.

TAQA had issued slightly wider guidance for both tranches earlier on Wednesday.

BNP Paribas, Citigroup Inc, HSBC Holdings , National Bank of Abu Dhabi and Standard Chartered Plc are mandated bookrunners on the deal.

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