DUBAI: Aldar Investment Properties, a subsidiary of Abu Dhabi’s largest developer Aldar Properties, has set at 175-180 basis points over mid-swaps the price guidance for a planned seven-year US dollar-denominated sukuk, according to a bank document reviewed by Reuters.

The senior, unsecured sukuk, or Islamic bonds, will be of benchmark size, which generally means upwards of $500 million (Dh1.84 billion), and they are expected to price later on Monday.

Orders for the notes topped $1.15 billion, including $735 million of interest from the banks leading the deal, the document showed.

— Reuters