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Aldar Investment Properties lists $500m sukuk on ADX

Fixed-rate sukuk issued on the Abu Dhabi Securities Exchange (ADX) with a tenor of 10 years, has a coupon rate of 3.875%

Aldar Investment Properties lists $500m sukuk on ADX
© Aldar
Aldar Investment Properties lists $500m sukuk on ADX

Aldar Investment Properties, a fully owned subsidiary of Aldar Properties, has issued a $500m (AED1.83bn) sukuk on the Abu Dhabi Securities Exchange (ADX).

According to a statement on the Abu Dhabi Securities Exchange portal, Aldar Investment Properties said that the fixed-rate, US dollar-denominated sukuk, with a tenor of 10 years, has a coupon rate of 3.875%.

The issue was six times oversubscribed, with global investors accounting for 71% of the total transaction allocation, the firm said.

This sukuk issuance follows a debut seven-year $500m (AED1.83bn) sukuk issued by Aldar Investments in 2018. Following precedent set by the 2018 sukuk, Aldar Investment Properties’ new sukuk will also be traded on the Euronext Dublin exchange.

Aldar Investments manages a $5.44bn (AED20bn) billion portfolio of residential, retail, commercial and hospitality assets.

Commenting on the sukuk issuance, chief executive officer of Aldar, Talal Al Dhiyebi, said: “The Aldar Investments sukuk issuance attracted strong global investor interest to finance a business with robust fundamentals.”

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