Call

Debt Investors

Approach to leverage

  • Aldar maintains a conservative financial debt policy to optimise gross debt capacity across both the asset management (Aldar Investments) and development businesses
  • Corporate structure enables asset management to operate more independently to drive greater operational and capital efficiency
  • Aldar Investments attained Baa1 credit rating and successfully raised two $500 million sukuks in September 2018 and October 2019 respectively, supported by its high quality, diverse asset base
  • Strong governance in place – separate debt and dividend policies for both asset management and development management businesses
  • As 30 at June 2019 the balance sheet remains robust with cash plus available and undrawn liquidity lines of AED 7.3 billion
  • Conservative debt position at AED 7.3 billion, well within debt policy ranges for both asset management (37.5%) and development management (3%)

ALDAR PROPERTIES PJSC (“Aldar”)

Baa2 (stable)
  • Asset Management (LTV 37.5%)
  • Development Business(LTV 3%)
  • Aldar Investment Properties LLC Baa1 (stable)

1 As at 30 June 2018

Credit rating (Aldar Investments)

MOODY'S
OUTLOOK Stable
CREDIT ASSESSMENT Baa1

View Latest Credit Rating Report - Here

Issuance (Aldar Investments)

PROGRAM CURRENCY TENOR MATURITY COUPON SIZE (US$m)
Sukuk US$ 7 Years 29/05/25 4.750% $500
Sukuk US$ 10 Years 22/10/29 3.875% $500

“For any debt investor related enquiries, please contact us at ir@aldar.com

Financial statements and presentations

  • HY 2019 Financial Statements

  • Jul 2019 Asia NDR Presentation

  • 2018 FY Financial Statements – Aldar Investment Properties

Issuance documents

  • Prospectus

  • SPV’s Memorandum and Articles of Association

  • AIP’s Contract of Establishment

  • AIP’s Commercial Licence

  • Sep 2018 Aldar Investment Properties $500m Sukuk Prospectus

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