Aldar Properties has secured approval from its shareholders for a $1.5 billion bond issue, Reuters reports. The Abu Dhabi developer has also obtained consent to place its planned $762.3 million convertible bonds issue with government-owned investment fund, Mubadala. The company has also received shareholders approval for issuance of bonds, sukuk, debentures or bonds not convertible into shares for the value of $1.5 billion. The Abu Dhabi government holds about 31% of Aldar after providing $5.2 billion aid to the company in January 2011.
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