Aldar, the Emirati real estate investment company, intends to issue green sukuk for ten years, at a value of $500 million.

According to a document seen by Reuters, the initial indicative price for the sukuk is 185 basis points above US Treasury bonds.

It is noteworthy that Aldar Properties has appointed HSBC and Standard Chartered as joint global coordinators.

It also appointed Abu Dhabi Commercial Bank, Abu Dhabi Islamic Bank, Dubai Islamic Bank, Emirates NBD Capital, First Abu Dhabi Bank and Mashreq as joint lead managers and joint bookrunners.