By Cristal Cody
Chicago, June 15 – Dubai Aerospace Enterprise (DAE) Ltd. sold $1 billion of 1.55% notes due Aug. 1, 2024 at a spread of 140 basis points over Treasuries, a market source told Prospect News.
The issuer is DAE Funding LLC.
The notes were talked in the Treasuries plus 175 bps area, a market source reported.
As reported on June 11, the company mandated BNP Paribas, Credit Agricole CIB, Emirates NBD, JPMorgan and Truist Securities as bookrunners of the Rule 144A and Regulation S deal. Fixed-income investor calls regarding the notes were held on Monday.
First Abu Dhabi Bank, Fifth Third Securities, Goldman Sachs International, HSBC, Mizuho Securities, Morgan Stanley and Natixis were also bookrunners.
The aerospace company is wholly owned by the Investment Corp. of Dubai and is based in Dubai, United Arab Emirates.
| Issuer: | DAE Funding LLC
|
| Issue: | Notes
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| Amount: | $1 billion
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| Maturity: | Aug. 1, 2024
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| Bookrunners: | BNP Paribas, Credit Agricole CIB, Emirates NBD, JPMorgan, Truist Securities, First Abu Dhabi Bank, Fifth Third Securities, Goldman Sachs International, HSBC, Mizuho Securities, Morgan Stanley and Natixis
|
| Coupon: | 1.55%
|
| Price: | 99.427
|
| Spread: | Treasuries plus 140 bps
|
| Trade date: | June 15
|
| Distribution: | Rule 144A and Regulation S
|
| Price talk: | Treasuries plus 175 bps
|
| Marketing: | Investor calls
|
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