September 26, 2019 / 1:10 PM / 3 months ago

UPDATE 1-Abu Dhabi's TAQA sells $500 mln in 30-year bonds

(Adds final sale)

DUBAI, Sept 26 (Reuters) - Abu Dhabi National Energy Company (TAQA) on Thursday sold $500 million 30-year bonds, a document by one of the banks leading the deal showed.

The bonds offer a 4% interest rate and the notes received around $4.5 billion in demand.

It hired BNP Paribas, First Abu Dhabi Bank, JPMorgan, MUFG, Société Générale and Standard Chartered Bank to arrange the deal, which is expected to close later on Thursday.

The deal comes amid a flurry of international debt issuance from the Gulf region, as governments and companies take advantage of low global rates to raise cash amid low oil prices. (Reporting by Davide Barbuscia Editing by Shri Navaratnam and Chizu Nomiyama)

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