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Dubai Aerospace Enterprise Ltd (DAE), rated Baa2 (Stable) by Moody’s and BBB (Stable) by Fitch, has mandated a benchmark dollar-denominated Regulation S senior unsecured seven-year bond.
The notes will be issued under DAE Funding LLC’s Global Medium Term Note Program with an expected rating of Baa2 by Moody’s and BBB by Fitch.
The Dubai-based aviation services firm has mandated Abu Dhabi Commercial Bank, Bank of China, BNP PARIBAS, Goldman Sachs International, and Mizuho to operate as joint active bookrunners, alongside Bank ABC, Credit Agricole CIB, Emirates NBD Capital, Fifth Third Securities, First Abu Dhabi Bank, HSBC, JP Morgan, Morgan Stanley, Natixis and Truist as joint passive bookrunners and RAKBANK as co-manager.
A series of global fixed income investor commence on Wednesday, January 7.
The benchmark issuance will be listed on Nasdaq Dubai with funds deployed for general corporate purposes.
(Writing by Bindu Rai, editing by Brinda Darasha)
