Abu Dhabi's TAQA picks banks for potential bond sale -lead arrangers

Reuters Middle East

DUBAI, Nov 29 (Reuters) - Abu Dhabi National Energy Co

(TAQA), the state-owned firm which is buying a number

of BP's North Sea assets, has hired five banks to arrange

investor meetings ahead of a potential benchmark-size bond sale,

lead arrangers said.

TAQA, in which the Abu Dhabi government owns a majority

stake, picked BNP Paribas, Citigroup Inc, HSBC

Holdings, National Bank of Abu Dhabi and

Standard Chartered Plc to arrange investor meetings in

Asia, London, and the United States.

A potential benchmark-size dollar-denominated bond may

follow after investor meetings, a document from lead arrangers

said on Thursday.

Benchmark-size offerings are typically at least $500 million

in size.

On Wednesday, TAQA said it was buying some of BP's

North Sea assets for over $1.3 billion.

By using Yahoo you agree that Yahoo and partners may use Cookies for personalisation and other purposes