UAE – Mubasher: Dubai Aerospace Enterprise (DAE) has resumed its bond repurchase programme, according to the company’s press release on Monday.

Under the programme that kicked off in mid-2018, the company has purchased around $485 million of the principal amount of bonds.

The company, which currently has around $2.8 billion of publicly traded bonds in the US capital markets, is also authorised to buy back nearly $115 million worth of bonds.

“We currently have five tranches of debt outstanding, and while the longer-dated maturity bonds are the most undervalued, we intend to repurchase available securities in each tranche at the appropriate price levels," DAE CEO, Firoz Tarapore, commented.