A bank document showed, on Wednesday, that Aldar Properties issued ten-year green bonds worth $500 million.
The document said the sukuks were issued at a premium of 110 basis points over US Treasuries, which is lower than the initial indicative price of 140 basis points over the same bonds that it had set earlier in the day.
The document indicated that the offering received purchase orders worth more than $1.90 billion. It comes within a financing program launched by the house worth two billion dollars.
The proceeds from the sale of the green bonds will be allocated to finance, refinance and invest in some green projects.
The document said: “The company has chosen HSBC and Standard Chartered as joint global coordinators.”
Abu Dhabi Commercial Bank, Abu Dhabi Islamic Bank, Dubai Islamic Bank, Emirates NBD Capital, First Abu Dhabi Bank, Mashreq and Morgan Stanley will act as lead managers and joint bookrunners.
Mubadala Investment Company owns 25% in Aldar Properties, while International Holding Company owns 26%.
The real estate development company sold 10-year green bonds worth $500 million in mid-May to finance a project within its green financing program. (Reuters)