Aldar Properties will pay 4 percent interest on 2.8 billion dirhams ($762.5 million) of convertible bonds to be sold as part of its rescue package, a much higher rate than analysts had expected.
Abu Dhabi developer Aldar, which is selling the bonds to state-owned fund Mubadala, announced the coupon in a statement to the bourse on Monday.
Analysts said the market was expecting the interest charged by Mubadala to be notional in view of the government's rescue of the struggling property firm.
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