Overview of Aldar's Debt Policy

​Approach to leverage

Maintain 35-40% gross debt against the value of investment properties and operating businesses which include our retail, residential, office, hotels and school assets.

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​MOODY'S ​S&P
OUTLOOK ​POSITIVESTABLE
CREDIT ASSESSMENTBAA3​​BBB-
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​PROGRAM

​CURRENCY

​TENOR

​PRICING DATE

​SETTLEMENT

​MATURITY

​COUPON

​SIZE (US$m)

​Sukuk​US$​5 Years​26th Nov '13​3rd Dec '13​3rd Dec '18​4.348%$​​750,000,000

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​30th June 2015​31st Dec 2014​30th June 2014
Gross Debt - AEDmAED ​(7,098)AED ​(9,170) AED ​​(10,043)
​Weighted Average Interest Rate​2.76%​2.56%​2.90%
Loan to Cover^​39.90%​52.10%​64.80%




^Gross Debt to Investment Properties and PP&E