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London: Taqa announced it has appointed Bank of Tokyo-Mitsubishi, Barclays, BNP Paribas, HSBC, National Bank of Abu Dhabi and Royal Bank of Scotland as initial mandated lead arrangers and bookrunners for a $3 billion, three-year revolver.
The deal pays a margin of 65 basis points (bps) over Libor.
State-owned Taqa, or Abu Dhabi National Energy Co, will use proceeds to refinance the borrower's $3.1 billion, one-year facility that signed on January 10, 2008 and for general corporate purposes.
Syndication was launched on Monday and banks can committed in US dollars or in UAE dirhams.
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