UAE - Mubasher: Dubai Aerospace Enterprise (DAE) has priced 1.625% senior unsecured notes due 2024 at $300 million, according to a press release on Monday.
Under DAE’s $2.5 billion global medium-term note programme, the notes will be issued by DAE Funding at a price of 99.427%.
The net proceeds from the notes, which will mature on 15 February 2024, will be used for general corporate purposes, including redemption of certain outstanding debt securities issued by DAE Funding.
In the US, the notes will be offered and sold only to qualified institutional buyers and to non-US persons outside the US in compliance with Regulation S under the Securities Act.
It is noteworthy to mention that DAE has issued an early redemption notice to the holders of the company’s $500 million senior notes due 2023.
