Abu Dhabi's Aldar to start sukuk roadshow on November 21

Yas Island developer will hold investor meetings in the UAE, Singapore, London, Hong Kong and Switzerland

Aldar Properties, Abu Dhabi's largest property developer, will hold roadshows for a benchmark-sized Islamic bond, or sukuk, from November 21-25, the company said in a bourse statement on Wednesday.

Aldar confirmed it had hired five banks to arrange the bond sale, as reported by Reuters earlier this week.

The banks are National Bank of Abu Dhabi, First Gulf Bank, Dubai Islamic Bank, Standard Chartered and Goldman Sachs Inc.

It will hold investor meetings in the United Arab Emirates, Singapore, London, Hong Kong and Switzerland.

"A US dollar benchmark RegS only sukuk transaction may follow subject to market conditions," Aldar said.

Benchmark-sized typically means that the size of a bond will be at least $500m.

Join the Discussion

Disclaimer:The view expressed here by our readers are not necessarily shared by Arabian Business, its employees, sponsors or its advertisers.

Please post responsibly. Commenter Rules

  • No comments yet, be the first!

All comments are subject to approval before appearing

More from Arabian Business

Abu Dhabi' sovereign fund targets further investment in China

Successful leaders' little secrets

Saudi gov't 'could shelve' $13.3bn projects in 2017

New Zealand presses Gulf states to finalise stalled trade deal

Saudi bourse says aiming to extend trading settlement time by June

Audemars Piguet CEO François-Henry Bennahmias on luxury and loyalty.