Aldar Properties Sells $1.9 Billion in Green Bonds to Fund Green Projects: A Success Story

Aldar Properties issued ten-year green bonds worth $500 million, which received purchase orders exceeding $1.9 billion as part of a financing program launched by the company worth two billion dollars. The proceeds from the sale of these bonds will be used to finance, refinance, and invest in green projects.

The bank document revealed that 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 offering received purchase orders exceeding $1.90 billion as part of a financing program launched by the company worth two billion dollars.

Mubadala Investment Company owns 25% of Aldar Properties, while International Holding Company owns 26%. In mid-May, the real estate development company sold 10-year green bonds worth $500 million to fund a project within its green financing program.

Aldar Properties selected HSBC and Standard Chartered as joint global coordinators for this offering, with Abu Dhabi Commercial Bank, Abu Dhabi Islamic Bank, Dubai Islamic Bank, Emirates NBD Capital, First Abu Dhabi Bank, Mashreq, and Morgan Stanley acting as lead managers and joint bookrunners.