Aldar, Arabtec announce CB plans
Aldar Properties, the Abu Dhabi developer, could issue convertible bonds as part of a debt restructuring package. The company on Monday said that it would hold a board meeting on Thursday (January 13) to consider calling an EGM to approve the issuance. It will also consider selling assets and converting CBs previously issued to state investment company Mubadala into equity.
The companys last public convertible bond issue, a $2.53bn sukuk sold in February 2007 was managed by Barclays Capital, Credit Suisse and National Bank of Abu Dhabi.
Arabtec Holdings, the UAE based construction firm, could also convertible bonds. It will hold a board meeting on January 16 to call
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