DUBAI (Reuters) – Abu Dhabi’s TAQA is expected to sell $1.5 billion in two-tranche bonds and tightened guidance after receiving $5 billion in orders, roughly split between the portions, a document showed on Tuesday.
Guidance was tightened to 85-90 basis points (bps) over U.S. Treasuries (UST) for a seven-year tranche and 3.45% plus or minus 5 bps for a 30-year Formosa portion, according to the document from one of the banks on the deal, which is expected to launch later on Tuesday.
(Reporting by Yousef Saba, editing by Louise Heavens)
