UAE – Mubasher: Dubai Aerospace Enterprise (DAE) had delivered a notice of early redemption to the holders of the company’s $1.25 billion senior notes.
The senior notes comprise $800 million 4.5% notes due 2022 and $1 billion 5% notes due 2024, according to a recent press release.
The notes, for which Wells Fargo Bank is the trustee and paying agent, are scheduled to be redeemed on 2 August 2021.
The notes will be redeemed in accordance with the terms and conditions of the applicable indenture at a redemption price equal to 100% of the principal amount of the 4.5% notes and 102.5% of the principal amount of the 5% notes.
In 2021, DAE issued new senior unsecured notes valued at $2.55 billion, with a weighted average maturity of 4.5 years.
Meanwhile, the company has redeemed or announced for redemption senior unsecured notes with a combined outstanding principal balance of around $1.7 billion.
