ABU DHABI — Aldar Properties announced the final terms for the proposed $2.53 billion exchangeable trust certificates Sukuk al-Mudarabah. Following the global roadshow, the final terms of the Issue have been set.
The profit rate used to calculate the periodic distribution amount shall be 5.767 per cent, equivalent to a margin of 0.65 per cent above the 5-year US dollar mid-swap rate at the time of pricing.
The exchange price shall be $1.550 reflecting an initial exchange premium of 37 per cent above the arithmetic average of the volume weighted average price (VWAP) of Aldar's ordinary shares on each trading day from 4 February 2007 to the pricing date.