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Abu Dhabi’s Aldar to Issue First Green Sukuk in Dollars
A document showed on Tuesday that Abu Dhabi real estate company “Aldar” intends to issue the first green sukuk denominated in dollars, according to market conditions.
The document said a unit of Aldar Properties, Abu Dhabi’s largest property developer, had instructed banks to arrange contacts with international investors on Tuesday, which will be followed by a series of one-on-one meetings with a small group of investors in fixed income instruments. The first issue will follow record of denominated unsecured green sukuk in dollars with a term of 10 years, in based on market conditions, the document adds.
Aldar Properties appointed HSBC and Standard Chartered as joint global coordinators and appointed Abu Dhabi Commercial Bank, Abu Dhabi Islamic Bank, Dubai Islamic Bank, Emirates NBD Capital, First Abu Dhabi Bank and Mashreq as joint principals manager and joint bookrunners.