Clifford Chance (CC) and Denton Wilde Sapte have advised on a landmark $2.5bn (£1.3bn) financing for Abu Dhabi-listed Aldar Properties, which sees the creation of the first Islamic convertible bond.
CC advised new client, Abu Dhabi real estate development company Aldar Properties on the issue of convertible ‘sukuk certificates’, fielding a team under Dubai-based capital markets partner Debashis Dey. Capital markets partner Tim Morris led the London team structuring the convertible element of the issue.
