Aldar Properties unit to start sukuk roadshow

Dubai: Aldar Properties said on Monday that its subsidiary Aldar Investment will commence a series of meetings to issue fixed-rate US dollar denominated sukuk with a tenor of five to 10 years.

The meetings will be with fixed income investors in the Middle East, Europe, and Asia, and will start on Tuesday. Aldar said it will disclose further details on the sukuk in due course.

The upcoming sukuk issuance will help repay the holding company’s existing $750 million (Dh2.75 billion) sukuk, which mature on December 3, 2018.