DAE Announces Early Redemption of US$500 Million 5.75% Senior Notes

Press release

Published February 1st, 2021 - 09:04 GMT

The Notes will be redeemed in accordance with the terms and conditions of the applicable indenture at a redemption price equal to 102.875% of the principal amount of the Notes plus accrued and unpaid interest.

Highlights

The outstanding principal amount as of the date of the Redemption Notice was approximately US$456.1 million.

Dubai Aerospace Enterprise (DAE) Ltd. today announced that it had delivered a notice of early redemption (the “Redemption Notice”) to the holders of the Company’s US$500 million 5.75% Senior Notes due 2023 (the “Notes”). The redemption date is scheduled for March 1, 2021 (the “Redemption Date”). The outstanding principal amount as of the date of the Redemption Notice was approximately US$456.1 million.

Wells Fargo Bank, N.A. is the trustee and paying agent for the Notes. The terms of the redemption are further described in the Redemption Notice.

This press release shall not constitute a notice of redemption nor does it constitute an offer to sell or a solicitation of an offer to buy any securities, nor shall there be any sale of securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful.

Background Information

Dubai Aerospace Enterprise

Dubai Aerospace Enterprise is a global aerospace corporation headquartered in Dubai. As an industry leading globally relevant aerospace business, DAE is enhancing Dubai’s strong position as an aviation and finance hub.