Reach for the sky



It took just days for Aldar, Abu Dhabi's largest property company, to withdraw the prospectus of its debut $1.3 billion sukuk. Such had been investor demand for the four-year Islamic bond that, in mid February, the firm announced it would be almost doubling the size of the issue to $2.53 billion. Not only that, but investors would be paid a full 10 basis points (bp) less than the Libor plus 75bp that had been previously advertised.

It is now clear that investors could have been pushed even lo

To continue reading...

You need to sign in to use this feature. If you don’t have a account, please register for a trial.

Sign in
You are currently on corporate access.

To use this feature you will need an individual account. If you have one already please sign in.

Sign in.

Alternatively you can request an indvidual account here: