On Tuesday Abu Dhabi National Energy Company (Taqa) declared that it was not advertising any bond offering at the moment. 

Tuesday saw Taqa's statement in the wake of rumors that in order to increase approximately $1 billion in bonds to finance investments and pay back debt due next year, Taqa has started investor meetings.

Taqa said in the statement that until the middle of 2010, it has no refinancing requirement. In addition, it said with the aim to make sure that it has the best structure in place, it is continuously reviewing its financing.

Mohammad Mubaideen, Investor Relations Manager at Taqa said: "At present, we don't have any road shows and we don't have any financing needs until July 2010."

Mubaideen added: "If we decide to go in for more acquisitions in the foreseeable future, we will review our financing requirements which include cash in hand, bank credit lines and bonds."

As per media reports, a road show has been started by Taqa, which had been received very well.