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Aldar bonds hit by report govt held stake sale talks

Posted on 02 February 2012

Yields on Abu Dhabi property developer Aldar’s 2014 bond rose over 30 basis points on Tuesday, a day after Reuters reported the emirate held talks to offload the government’s stake in the struggling firm.
While the share price has slumped, Aldar’s bonds had rallied on the implicit government support, most importantly in the form of the stake held by Mubadala. Aldar repaid on time a $1.18 billion Islamic bond that fell due last November………………………………………..Full Article: Source

 
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