Islamic Finance

UAE property developer Aldar starts investor meetings ahead of 10-year USD sukuk issue

BY Staff Writer

10 Oct 2019

News

Salaam Gateway

The investment subsidiary of Abu Dhabi-based property developer Aldar starts investor meetings on Thursday, Octonber 10, ahead of a planned sale of a ten-year U.S. dollar sukuk sale.

The company said in an exchange filing on Wednesday the investor meetings will be held in Europe, Asia, and the Middle East.

Aldar said proceeds from the sukuk will go towards refinancing its existing debt.

The offer is expected to be priced on October 15, subject to market conditions.

Aldar has hired Dubai Islamic Bank, First Abu Dhabi Bank, HSBC and Standard Chartered Bank as joint global coordinators and joint lead managers, along with Abu Dhabi Commercial Bank, Abu Dhabi Islamic Bank, Emirates NBD Capital and Sharjah Islamic Bank as joint lead managers.

tags:

Sukuk