Emirati 'Taka' Issues $750M Blue Bonds

The Abu Dhabi National Energy Company (“TAQA”) issued blue bonds worth $750 million to fund sustainable projects in water management and treatment. This makes it the largest issuance of its kind in the region and the first blue bonds issued by a utility company linked to a Gulf government. The bonds have a five-year maturity and a coupon rate of 5.125%. They were issued under TAQA’s updated green and blue financing framework in 2023 and received excellent credit ratings from Moody’s and Fitch, reflecting confidence in its sustainable strategy. The proceeds will be directed towards projects that enhance water security and address water scarcity challenges in areas with limited resources. This step is part of TAQA’s ongoing efforts to invest in low-carbon solutions and sustainable infrastructure projects, with the company’s total green and blue bond issuance reaching $2.6 billion to date.

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