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Sunday, 23 July 2017

Dubai aircraft lessor prices $2.4bn bonds - The National

Dubai aircraft lessor prices $2.4bn bonds - The National:

"Dubai Aerospace Enterprise (DAE), the aircraft leasing and maintenance company controlled by the Dubai Government, has priced US$2.3 billion in senior bonds split across three tranches, the company said on Sunday.

The firm priced $500 million of 4 per cent notes due in 2020, $800m 4.5 per cent bonds due in 2022 and $1bn 5 per cent bonds due in 2024, it said.DAE said it will use part of the proceeds from the bond sale, together with cash on hand, to pay for the acquisition of the Dublin-based lessor Awas, announced earlier this year.

DAE said in April it was acquiring Awas from the private equity firm Terra Firma Capital Partners and the Canadian Pension Plan Investment Board.The acquisition, subject to regulatory approval, is expected to close in the third quarter."

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