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Aldar Investment Properties LLC, rated Baa1 (Stable) by Moody’s, has mandated banks for two sukuk taps of $145 million each, reopening its $500 million Green Trust Certificates due 2034 and 2035.
Initial price guidance is set at 103.375% for the 2034s and 101.250% for the 2035s, for the senior unsecured Reg S Sukuk Al-Wakala / Murabaha.
Pricing is expected today.
The sukuk will be listed on Euronext Dublin and the Abu Dhabi Securities Exchange.
Joint Green structurers are First Abu Dhabi Bank PJSC and Standard Chartered Bank. Joint lead managers and bookrunners are Abu Dhabi Islamic Bank PJSC, Emirates NBD Capital, First Abu Dhabi Bank PJSC, J.P. Morgan securities plc and Standard Chartered Bank
(Writing by Brinda Darasha; editing by Seban Scaria)
