Clifford Chance advises on USD 1 bn notes issuance by Aldar to Apollo

Clifford Chance advised on the USD 1.0 billion subordinated hybrid notes issuance by Aldar to Apollo Global Management through a private placement.

The net proceeds from the transaction have been injected as equity into Aldar Investment Properties (AIP). The operation also included the repayment of USD 500 million of perpetual subordinated notes previously issued by AIP to Apollo.

The Clifford Chance team

Private equity/M&A partner and regional managing partner for Middle East & Türkiye Mohammed Al-Shukairy (pictured left) and capital markets partner Stuart Ure (pictured right) led the the Clifford Chance team in the UAE, with support from legal director Gareth Dray (private equity/M&A), counsel Terrence Moloney (capital markets), senior associate Pearl Mahaga (capital markets), senior associate Kimberly Ng (private equity/M&A) and trainee Hafsah Akhtar (private equity/M&A).