DAE raises $1.25bn through dollar bonds sale

SectorFinancial Markets

Dubai Aerospace Enterprise (DAE) has raised $1.25 billion from selling four and seven-year unsecured dollar bonds, Reuters reported. The aircraft leasing company secured $500 million from four-year bonds sold at a coupon rate of 2.625%, as shown by a cited document. Meanwhile, the company raised $750 million by selling seven-year bonds at a coupon rate of 3.375%. Goldman Sachs, Morgan Stanley, Credit Agricole, Emirates NBD Capital, and Fifth Third Securities were active bookrunners for the transaction. It is noteworthy to mention that recently, DAE has hired banks to arrange fixed income investor calls before issuing US dollar-denominated bonds. ...read more...