Oversubscribed Issuance with Unprecedented Global Interest
Aldar Properties PJSC announces its remarkable $1 billion hybrid capital issuance, receiving overwhelming demand from regional and international investors. The issuance was oversubscribed by 3.8 times, with total orders surpassing $4.9 billion.
Largest Hybrid in the Middle East with Record Metrics
This issuance represents the largest conventional hybrid capital offering in the Middle East, achieving the highest rating and the tightest credit spread for a corporate hybrid across the CEEMEA region. The move solidifies Aldar’s strong balance sheet and credit standing, enabling its transformational growth plan focused on landbank expansion, develop-to-hold strategies, and strategic acquisitions.
Global Investor Confidence Evident
Institutional investors from the Middle East, UK, Europe, North America, and Asia contributed to the record-breaking orders, showcasing trust in Aldar’s strategic direction and financial stability.
Innovative Hybrid Notes with Unique Features
The 30.25-year unsecured notes offer an initial yield of 6.625% with a non-call period of 7.25 years. This innovative structure supports Aldar’s financial flexibility while maintaining a balance between equity and debt.
Strong Credit Ratings Reinforce Credibility
Moody’s affirmed Aldar’s Baa2 credit rating and a standalone Baa3 rating for the hybrid notes, underscoring the company’s resilience and forward-looking strategies.
Strategic Investment for Long-term Growth
Proceeds will enhance Aldar’s credit profile by reducing senior debt, preserving capacity for future growth, and sustaining its robust pipeline of projects.
