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DAE announces early redemption of $488m senior unsecured notes

DAE announces early redemption of $488m senior unsecured notes
The notes are set to be retired on 15 October 2021

UAE - Mubasher: Dubai Aerospace Enterprise (DAE) has issued a notice for early retirement of the company's $500 million of 5.25% senior unsecured notes due 2021.

With an outstanding principal amount of $488 million as of the redemption date, the notes are set to be retired on 15 October 2021, according to a press release on Tuesday.

Wells Fargo Bank is the trustee and paying agent for the notes. 

In the last 12 months, DAE has issued new senior unsecured notes with a combined value of $3.3 billion and an average maturity of 4.7 years.

The company has redeemed senior unsecured notes with a combined amount of around $2.2 billion.