Aldar sets price guidance for dollar sukuk

Aldar

Investment Properties, a subsidiary of Abu Dhabi’s largest developer Aldar Properties, has set at 175-180 basis points over mid-swaps the price guidance for a planned sevenyear US dollar-denominated sukuk, according to a bank document reviewed by Reuters.

The senior, unsecured sukuk, or Islamic bonds, will be of benchmark size, which generally means upwards of $500 million (Dh1.84 billion), and they were expected to price later yesterday. Orders for the notes topped $1.15 billion. (Reuters)