Aldar prices $750m sukuk tight into $2.7bn book

By Dan Alderson
27 Nov 2013

Aldar Properties saw big demand as it priced its $750m 4.348% five year sukuk on Tuesday at 290bp over mid-swaps — in from Monday’s initial price thoughts of very low 300bp area.

Aldar said that order books for the musataha sukuk were over $2.7bn and closed them at 1pm in London. Middle East investors took half of the deal, while Europe took 37% and Asia 13%. Funds accounted for 55% of the sale, with banks taking 35%, sovereigns and agencies ...

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