Dubai-based plane lessor DAE issues $1bn of bonds
- Date: 16-Jun-2021
- Source: The National
- Sector:Financial Markets
- Country:UAE
Dubai-based plane lessor DAE issues $1bn of bonds
Dubai Aerospace Enterprise (DAE), the Middle East's biggest plane lessor, said it issued $1 billion in bonds due in August 2024, making it the company's second debt issuance this year.
"The net proceeds from the notes will be used for general corporate purposes including redemption of certain outstanding debt securities issued by DAE," the company said in a statement on Wednesday.
In February, DAE's chief executive Firoz Tarapore told The National that DAE may raise more funds if the conditions are right after it issued $2.25bn of new bonds to repay debt and to fund its growth.
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