$1b in bonds raised by Dubai Aerospace

Dubai

Aerospace Enterprise (DAE), the aircraft leasing firm, has raised $1 billion (Dh3.67 billion) in bonds, $250 million less than the amount it had originally said it planned to raise.

The firm has issued $500 million in senior notes due in 2021 and $500 million due in 2023, it said.

The proceeds from the debt sale will be used for general corporate purposes and to refinance existing debt. The company said last week that it planned to issue $1.25 billion in senior notes. (Reuters)