DAE Announces Senior Notes Offer Pricing at $1 Billion 

DAE Funding LLC (“DAEF”), a wholly-owned subsidiary of Dubai Aerospace Enterprise (DAE) Ltd (“DAE”), has announced that it has priced $500 million aggregate principal amount of Senior Notes due 2021 and $500 million aggregate principal amount of Senior Notes due 2023 (collectively, the “Notes”).

The Notes will be fully and unconditionally guaranteed by DAE.

DAE intends to use the net proceeds from this offering to refinance existing secured indebtedness and to pay the related fees and expenses, and to use any remaining net proceeds for general corporate purposes.

Settlement of the offering is expected to occur on November 14, 2018.

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The Notes have not been, and will not be, registered under the Securities Act of 1933, as amended (the “Securities Act”), or the securities laws of any other jurisdiction.

As a result, the Notes may not be offered or sold within the United States to or for the account or benefit of any U.S. person unless the offer or sale would qualify for a registration exemption under the Securities Act and applicable state securities laws.

Accordingly, the Notes are being offered only to qualified institutional buyers in accordance with Rule 144A under the Securities Act and to certain persons outside the United States in accordance with Regulation S under the Securities Act.

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