DAE Announces Pricing of $2.3 Billion Senior Notes

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.

This press release shall not constitute an offer to sell or a solicitation of an offer to buy, nor shall there be any sale of, the Notes in any state or jurisdiction in which such an offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.

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ABOUT DUBAI AEROSPACE ENTERPRISE – Dubai Aerospace Enterprise (DAE) Ltd is a globally recognized and award winning aerospace company headquartered in Dubai. More information can be found on the company’s web site at www.dubaiaerospace.com.

CAUTIONARY NOTE CONCERNING FORWARD LOOKING STATEMENTS:

This press release may contain forward-looking statements, including forward-looking statements within the meaning of the U.S. Private Securities Litigation Reform Act of 1995. Such forward-looking statements include, but are not limited to, statements concerning DAE’s plans, objectives, expectations and intentions and other statements that are not historical or current fact.  Forward-looking statements are based on DAE’s current expectations and involve risks and uncertainties that could cause actual results to differ materially from those expressed or implied in such forward-looking statements. Factors that could cause DAE’s results to differ materially from current expectations include, but are not limited to factors described in the offering memorandum relating to the offering. In addition, these statements are based on a number of assumptions that are subject to change. This press release speaks only as of the date hereof. DAE disclaims any duty to update the information herein.

The term “DAE” in reference to the activities described in this press release may mean one or more of DAE's subsidiaries and/or their internal business divisions and does not necessarily indicate activities engaged in by Dubai Aerospace Enterprise (DAE) Ltd.


 
Investor Contact:


Arne Bevaart

Telephone:  +971 4 428 9591

Email: This email address is being protected from spambots. You need JavaScript enabled to view it.

Dubai Aerospace Enterprise (DAE) Ltd.

DIFC, The Gate District, Building 4, Level 3, P O Box 506592, Dubai, United Arab Emirates

Telephone: +971 4 428 9500

Website: www.dubaiaerospace.com

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