Abu Dhabi-based real estate developer and asset manager Aldar Properties plans to issue $1 billion in hybrid bonds with a fixed 30.25-year term. The sale will be managed by a consortium of bookrunners and joint lead managers.

Abu Dhabi Commercial Bank, Bank of China, Citigroup, Emirates NBD Capital, First Abu Dhabi Bank, HSBC, Intesa Sanpaolo London Branch, JP Morgan, Mashreqbank, RAKBANK, and Standard Chartered have been named as the initial facilitators for the sale and bookkeeping process, set to take place in 2025.

Data indicates that Aldar Properties has a $4 billion surplus, excluding joint lead manager interest. The initial price guidance is around 6.875%. According to the statement, proceeds from the hybrid bond sale will be allocated for general corporate purposes.