Dubai Aerospace Enterprise (DAE) has achieved pricing of 1.625% for $300 million aggregate principal of notes due 2024.
The notes represent senior unsecured obligations and will be issued under DAE’s $2.5 billion global medium-term note programme, which is rated BBB- by Fitch Ratings and Baa3 by Moody’s.
The notes will be issued by DAE Funding and guaranteed by DAE at a price of 99.427%. They mature on 15 February 2024.
The net proceeds will be used for general corporate purposes including redemption of certain outstanding debt securities issued by DAE Funding.
