Dubai, U.A.E. – 23 July 2017 – DAE Funding LLC (“DAEF”), a wholly-owned subsidiary of Dubai Aerospace Enterprise (DAE) Ltd (“DAE”), today announced that it has priced $500,000,000 aggregate principal amount of 4.00% Senior Notes due 2020, $800,000,000 aggregate principal amount of 4.50% Senior Notes due 2022 and $1,000,000,000 aggregate principal amount of 5.00% Senior Notes due 2024 (collectively, the “Notes”). The Notes will be fully and unconditionally guaranteed by DAE. DAE intends to use a portion of the net proceeds from this offering, along with cash on hand, to pay the cash purchase price for its previously announced acquisition of the AWAS group of companies, as well as for related fees and expenses, and any remaining net proceeds for general corporate purposes, which may include the future repayment of outstanding indebtedness. Settlement of the offering is expected to occur on August 4, 2017. Pending the consummation of the acquisition of AWAS, the gross proceeds of the offering will be placed into an escrow account with Wells Fargo Bank, National Association.
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.