DAE announces early retirement of US$1.25 billion of Senior Notes

Dubai Aerospace Enterprise (DAE) Ltd today announced that it had delivered a notice of early redemption (the “Redemption Notice”) to the holders of the Company’s US$800 million 4.50% Senior Notes due 2022 (the “4.50% Notes”) and US$1,000 million 5.00% Senior Notes due 2024 (the “5.00% Notes”, and together with the 4.50% Notes, the “Notes”). The Notes are scheduled to be redeemed on August 2, 2021. The outstanding principal amount of the Notes as of the date of the Redemption Notice was approximately US$1,250 million.

The Notes will be redeemed in accordance with the terms and conditions of the applicable indenture at a redemption price equal to 100.000% of the principal amount of the 4.50% Notes and 102.500% of the principal amount of the 5.00% Notes, plus accrued and unpaid interest, if any.

Wells Fargo Bank, N.A. is the trustee and paying agent for the Notes. The terms of the redemption are further described in the Redemption Notice.

In 2021, DAE issued new Senior Unsecured Notes with a combined principal amount of US$2,550 million, with a weighted average maturity of 4.5 years, and has redeemed or announced for redemption Senior Unsecured Notes with a combined outstanding principal balance of approximately US$1,700 million.

This press release shall not constitute a notice of redemption nor does it constitute an offer to sell or a solicitation of an offer to buy any securities, nor shall there be any sale of securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful.

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