Dubai: The Abu Dhabi National Energy Company (Taqa) on Monday announced approval of a Dh11 billion revolving credit facility for Bank of Tokyo Mitsubishi UFJ, BNP Paribas, Citi, HSBC, the Royal Bank of Scotland PLC and Standard Chartered Bank.

The Bank of Tokyo Mitsubishi UFJ will act as the facility agent.

Ahead of the launch, the banks were joined by Bank of America Merrill Lynch and Sumitomo Mitsui and were designated lead arrangers.   

The facility is structured into three and five year multi-currency revolving credit facilities, and will be used for general corporate purposes, replacing the existing Dh11.57 billion revolving credit facility, agreed in August 2008.

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