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Dubai Aerospace sets talk on $1.25 billion two-tranche offering; pricing Thursday
By Abigail W. Adams
Portland, Me., Nov. 1 – Dubai Aerospace Enterprise Funding LLC plans to price a $1.25 billion offering of senior notes (Ba2/BB+) in three-year and five-year tranches on Thursday, according to a market source.
Price talk for the three-year tranche is in the 5¼% area. Price talk for the five-year tranche is in the 5¾% area.
Books close at 3:30 p.m. ET with pricing expected thereafter.
The deal was marketed via an investor conference call.
Morgan Stanley, BNP Paribas, Credit Agricole CIB, Deutsche Bank, Goldman Sachs, HSBC, Mizuho, Natixis and SunTrust Robinson Humphrey are joint bookrunners for the Rule 144A for life and Regulation S offering.
The three-year tranche is non-callable. The five-year tranche is callable after two years.
Proceeds will be used for the repayment of debt and for general corporate purposes.
Dubai Aerospace Enterprise is a Dubai-based aerospace corporation engaged in aircraft leasing and engineering activities.
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