Reuters reported that Abu Dhabi National Energy Company has hired 5 banks to arrange investor meetings ahead of a potential benchmark size bond sale.
TAQA, in which the Abu Dhabi government owns a majority stake, picked BNP Paribas, Citigroup, HSBC Holdings, National Bank of Abu Dhabi and Standard Chartered to arrange investor meetings in Asia, London and the United States.
A potential benchmark size dollar denominated bond may follow after investor meetings. Benchmark size offerings are typically at least USD 500 million in size. It was buying some of BP's North Sea assets for over USD 1.3 billion.