UPDATE 3-Taqa eyes Canada bond issue; Q3 earnings lag

Wed Nov 11, 2009 4:58pm GMT
 
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* Taqa may sell bonds in Canada to refinance debt

* Taqa to slow down acquisition plans

* Abu Dhabi's Taqa makes 90 mln dirhams in Q3

* Misses analysts' forecasts

* Revenues hit by lower oil and gas prices

(Recasts with plans to sell bonds)

By Stanley Carvalho

ABU DHABI, Nov 11 (Reuters) - Abu Dhabi National Energy Co TAQA.AD (TAQA) said it may sell bonds in Canada in the first quarter to refinance debt and would slow down its acquisition plans, after reporting forecast-lagging quarterly earnings.

The company said earlier on Wednesday net profit fell almost 90 percent in the third quarter due to lower oil and gas revenues.  Continued...

 

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