Abu Dhabi National Energy Company PJSC announced one of Morocco's private bond placements in 2020, reinforcing the company's position in the Moroccan energy market. The landmark transaction was delivered through TAQA Morocco's finalization of a bond issuance by a private placement for AED 1.08 billion (USD 293.8 million), which diversifies TAQA Morocco's funding base. The bond placement was substantially oversubscribed for by qualified investors, providing the company an opportunity to further optimize its capital structure and create value for its shareholders. The transaction resulted in a reduction in debt cost of over 20% and an extension to its debt maturity date by 11 years, to March 2038.