{"id":13895,"date":"2019-10-24T06:09:54","date_gmt":"2019-10-24T06:09:54","guid":{"rendered":"https:\/\/onplan.ae\/aldars-unit-raises-500m-in-sukuk-placement\/"},"modified":"2019-10-24T06:09:54","modified_gmt":"2019-10-24T06:09:54","slug":"aldars-unit-raises-500m-in-sukuk-placement","status":"publish","type":"post","link":"https:\/\/onplan.ae\/ar\/aldars-unit-raises-500m-in-sukuk-placement\/","title":{"rendered":"Aldar\u2019s unit raises $500m in sukuk placement"},"content":{"rendered":"<div>\n<p><strong>Abu Dhabi &#8211; Mubasher:<\/strong> Aldar Investment Properties, a wholly-owned subsidiary of <a href=\"https:\/\/english.mubasher.info\/markets\/ADX\/stocks\/ALDAR\">Aldar Properties<\/a>, announced it has raised a nominal amount of $500 million by placing a fixed rate US dollar-denominated sukuk with a tenor of 10 years.<\/p>\n<p>The transaction represents the first 10-year public sukuk issue by an issuer based in Abu Dhabi, according to a press release.<\/p>\n<p>The sukuk has a coupon rate of 3.875%, which is the lowest rate ever achieved by Aldar, Aldar Investment highlighted.<\/p>\n<p>The offering was over six times oversubscribed, with global investors accounting for 71% of the total transaction allocation, the company noted.<\/p>\n<p>The company will use the net proceeds of the offering to refinance existing debt, Aldar said.<\/p>\n<p>The issuance will help in diversifying the funding base of Aldar Investments as well as expanding Aldar\u2019s overall duration of liabilities.<\/p>\n<p>Talal Al Dhiyebi, CEO of Aldar, commented: \u201cThe success of the transaction represents a strong endorsement by the global investment community of the Abu Dhabi economy and of Aldar\u2019s leading position in the regional real estate sector.\u201d<\/p>\n<p>\u201cThis landmark deal further strengthens our balance sheet, and is testament to Aldar Investments\u2019 status as one of the most efficient platforms for property ownership in the region,\u201d he added.<\/p>\n<p>The issuer has mandated Dubai Islamic Bank (DIB), First Abu Dhabi Bank (FAB), HSBC, and Standard Chartered Bank as joint global coordinators and joint lead managers for the offering.<\/p>\n<p>Additionally, Abu Dhabi Commercial Bank (ADCB), Abu Dhabi Islamic Bank (ADIB), Emirates NBD Capital, and Sharjah Islamic Bank acted as joint lead managers.<\/p>\n<p>Aldar Investments holds and manages a diversified portfolio of high-quality income-generating residential, retail, commercial, and hospitality assets valued at an AED 20 billion.<\/p>\n<p>It is worth noting that Aldar Investments is rated \u2018Baa1\u2019 by the credit rating agency Moody\u2019s, the highest credit rating to be assigned for a non-government corporate in the region.<\/p>\n<\/p><\/div>","protected":false},"excerpt":{"rendered":"<div>\n<p><strong>Abu Dhabi &#8211; Mubasher:<\/strong> Aldar Investment Properties, a wholly-owned subsidiary of <a href=\"https:\/\/english.mubasher.info\/markets\/ADX\/stocks\/ALDAR\">Aldar Properties<\/a>, announced it has raised a nominal amount of $500 million by placing a fixed rate US dollar-denominated sukuk with a tenor of 10 years.<\/p>\n<p>The transaction represents the first 10-year public sukuk issue by an issuer based in Abu Dhabi, according to a press release.<\/p>\n<p>The sukuk has a coupon rate of 3.875%, which is the lowest rate ever achieved by Aldar, Aldar Investment highlighted.<\/p>\n<p>The offering was over six times oversubscribed, with global investors accounting for 71% of the total transaction allocation, the company noted.<\/p>\n<p>The company will use the net proceeds of the offering to refinance existing debt, Aldar said.<\/p>\n<p>The issuance will help in diversifying the funding base of Aldar Investments as well as expanding Aldar\u2019s overall duration of liabilities.<\/p>\n<p>Talal Al Dhiyebi, CEO of Aldar, commented: \u201cThe success of the transaction represents a strong endorsement by the global investment community of the Abu Dhabi economy and of Aldar\u2019s leading position in the regional real estate sector.\u201d<\/p>\n<p>\u201cThis landmark deal further strengthens our balance sheet, and is testament to Aldar Investments\u2019 status as one of the most efficient platforms for property ownership in the region,\u201d he added.<\/p>\n<p>The issuer has mandated Dubai Islamic Bank (DIB), First Abu Dhabi Bank (FAB), HSBC, and Standard Chartered Bank as joint global coordinators and joint lead managers for the offering.<\/p>\n<p>Additionally, Abu Dhabi Commercial Bank (ADCB), Abu Dhabi Islamic Bank (ADIB), Emirates NBD Capital, and Sharjah Islamic Bank acted as joint lead managers.<\/p>\n<p>Aldar Investments holds and manages a diversified portfolio of high-quality income-generating residential, retail, commercial, and hospitality assets valued at an AED 20 billion.<\/p>\n<p>It is worth noting that Aldar Investments is rated \u2018Baa1\u2019 by the credit rating agency Moody\u2019s, the highest credit rating to be assigned for a non-government corporate in the region.<\/p>\n<\/p><\/div>","protected":false},"author":1,"featured_media":13896,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"footnotes":""},"categories":[938],"tags":[],"class_list":["post-13895","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-real-estate"],"aioseo_notices":[],"_links":{"self":[{"href":"https:\/\/onplan.ae\/ar\/wp-json\/wp\/v2\/posts\/13895","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/onplan.ae\/ar\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/onplan.ae\/ar\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/onplan.ae\/ar\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/onplan.ae\/ar\/wp-json\/wp\/v2\/comments?post=13895"}],"version-history":[{"count":0,"href":"https:\/\/onplan.ae\/ar\/wp-json\/wp\/v2\/posts\/13895\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/onplan.ae\/ar\/wp-json\/wp\/v2\/media\/13896"}],"wp:attachment":[{"href":"https:\/\/onplan.ae\/ar\/wp-json\/wp\/v2\/media?parent=13895"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/onplan.ae\/ar\/wp-json\/wp\/v2\/categories?post=13895"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/onplan.ae\/ar\/wp-json\/wp\/v2\/tags?post=13895"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}