With its first hybrid capital issuance priced successfully, Aldar Properties has drawn strong interest from a variety of domestic and foreign investors.
Aldar’s issuance at the level represents the Middle East’s largest conventional hybrid. Additionally, for a corporate hybrid in the Central & Eastern Europe, Middle East, and Africa (CEEMEA) region, the transaction received the tightest credit spread at issue and the highest rating.
By adding a hybrid layer to Aldar’s capital structure for the first time, the proactive and creative move strengthens the company’s solid credit profile and balance sheet while boosting resilience and stability in its finances. The money raised will help Aldar continue its transformational growth plan and its strategic priorities, which include acquisitions, portfolio development to hold, and landbank expansion and replenishment.
The fact that the offering was oversubscribed by 3.8 times highlights the high level of investor confidence in Aldar’s financial stability, strategic direction, and growth and value creation potential. Orders totaling more than $4.9 billion came from a variety of institutional investors in different regions. Investors from the Middle East and North Africa (41%) the United Kingdom (38%), Europe (9%), North America (8%), and Asia (4%), make up the final allocation.
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