UAE – Mubasher: Dubai Aerospace Enterprise (DAE) has issued an early redemption notice to the holders of the company’s $500 million senior notes due 2023.
As of the date of the redemption notice, the outstanding principal amount of the 5.75% senior notes was valued at around $456.1 million, according to a press release on Monday.
The redemption date is scheduled for 1 March 2021.
The notes will be redeemed at a price equal to 102.875% of the principal amount of the notes and accrued and unpaid interest, in accordance with the terms and conditions of the applicable indenture.
Wells Fargo Bank, N.A. is the trustee and paying agent for the notes.
