Abu Dhabi real estate developer and asset manager Aldar Properties has closed an AED9 billion ($2.4 billion) sustainability-linked syndicated multi-tranche revolving credit facility (RCF).

 

The five-year floating-rate senior unsecured committed RCF comes days after Aldar’s inaugural AED3.67 billion hybrid notes issuance, said a Zawya report.

 

Aldar said the syndication attracted “strong demand” from 15 global and regional financial institutions. Participating banks include Abu Dhabi Commercial Bank, Ajman Bank, Bank of China, Citi, Dubai Islamic Bank, Emirates Islamic Bank, Emirates NBD Bank, First Abu Dhabi Bank, HSBC, Intesa Sanpaolo, J.P. Morgan, Mashreq, National Bank of Kuwait, National Bank of Ras Al Khaimah, and Sharjah Islamic Bank, according to the report.