#Dubai plane leasing firm DAE adds more banks to bond deal | Reuters

Dubai plane leasing firm DAE adds more banks to bond deal | Reuters

Dubai Aerospace Enterprise (DAE), one of the world's biggest aircraft leasing companies, has added more banks to its planned sale of U.S. dollar-denominated bonds that would be its second this year, an investor presentation seen by Reuters showed.

DAE, owned by the Dubai government's main investment arm the Investment Corporation of Dubai, will issue bonds in tranches of three- and/or seven years to exercise a call option on bonds due next year and 2024, the presentation showed on Monday.

It will also use the proceeds from the new bonds for general corporate purposes. The bonds will be of benchmark size, which generally means at least $500 million.

A document from one of the banks on the deal seen by Reuters on Friday did not specify a tenor and said DAE hired BNP Paribas (BNPP.PA), Credit Agricole (CAGR.PA), Emirates NBD Capital (ENBD.DU), JPMorgan (JPM.N) and Trust Securities (TFC.N) to organise fixed income investor calls on Monday.