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Aldar Properties, Abu Dhabi-based property developer and real estate asset manager, has mandated banks to arrange a global investor call and a series of fixed income investors calls commencing on Monday, 6 January.
A debut benchmark-sized USD-denominated conventional Reg S only resettable subordinated notes offering with a 30.25 non call with 7.25-year tenor and expected instrument rating of Baa3 by Moody’s will follow, subject to market conditions.
Citi is the sole structuring advisor, global coordinator and joint bookrunner, together with Abu Dhabi Commercial Bank, Bank of China, Emirates NBD Capital, First Abu Dhabi Bank, HSBC, IMI-Intesa Sanpaolo, J.P. Morgan, Mashreq, RAKBANK and Standard Chartered Bank as joint lead managers and joint bookrunners.
(Writing by Brinda Darasha; editing by Seban Scaria)
