With a successful pricing strategy, Aldar Properties has drawn strong interest from various domestic and foreign investors for its first $1 billion hybrid capital offering. The largest conventional hybrid in the Middle East is represented by the issue by Aldar at the level. In the Central & Eastern Europe, Middle East, and Africa (CEEMEA) area, the transaction also received the tightest credit spread at issue and the highest rating for a corporate hybrid.
For the first time, the proactive and creative project adds a hybrid layer to Aldar’s capital structure, strengthening the company’s solid credit profile and balance sheet while boosting resilience and stability in the financial system. The proceeds will support Aldar’s transformational growth plan and strategic initiatives, such as landbank expansion and replenishment, portfolio development to hold, and acquisitions.
The offering was 3.8 times oversubscribed, demonstrating high investor confidence in Aldar’s financial strength, strategic direction, and growth and value creation potential. Over $4.9 billion in total orders were placed by a variety of institutional investors from various regions. Investors from the Middle East and North Africa make up 41% of the final allocation, followed by the UK (38%), Europe (9%), North America (8%), and Asia (4%).
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