Aldar Properties, a leading real estate development company in the United Arab Emirates, issued 10-year green bonds worth $500 million to finance its green projects. The sukuks were priced at a premium of 110 basis points over US Treasuries, which was lower than the initially indicated price of 140 basis points over the same bonds set earlier in the day.
The proceeds from the sale of the green bonds will be used to fund, refinance and invest in environmentally sustainable projects. HSBC and Standard Chartered were named as joint global coordinators for the offering, while Abu Dhabi Commercial Bank, Abu Dhabi Islamic Bank, Dubai Islamic Bank, Emirates NBD Capital, First Abu Dhabi Bank, Mashreq and Morgan Stanley acted as lead managers and joint bookrunners.
Mubadala Investment Company owns 25% of Aldar Properties while International Holding Company owns 26%. In mid-May, Aldar Properties sold 10-year green bonds worth $500 million to fund a project within its green financing program. The offering received purchase orders exceeding $1.9 billion as part of a financing program launched by the company worth two billion dollars.
The creator economy has presented many young people with a new world of opportunities to…
Hamas has expressed its sincere condolences following the confirmation of the deaths of Iranian President…
Laura Zimmermann, a leader at global professional services firm Huron, has been recognized by Consulting…
Manchester City has won its fourth consecutive Premier League title, a feat that has been…
Kansas State University recently announced the appointment of Dr. Joseph Awika as the new head…
The Tennessee Highway Safety Office and the University of Tennessee Health Science Center’s Campus Police…