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Dubai Aerospace Enterprise (DAE) announced today (April 19) that its board of directors and shareholders have authorized an additional US$300 million for bond buybacks through open market transactions.
To date, DAE has repurchased approximately $1.13 billion of the principal amount of publicly traded bonds pursuant to a prior authorization of $1.2 billion.
DAE is a Dubai-based global aviation services company with over 35 years of experience in its leasing and engineering divisions, operating from seven offices in Dubai, Dublin, Amman, Singapore, New York, Miami and Seattle, serving more than 170 airlines worldwide Customers provide services.
The aerospace major now has $370 million in available authorization to repurchase bonds.
Its CEO, Firoz Tarapore, said: “The recent volatility in interest rate markets has enabled us to step up the repurchases of our secured and unsecured bonds. Today, we are increasing our available mandates to create the opportunity to repurchase more as market opportunities arise. bond capacity.”
He added that DAE currently has approximately $3.5 billion of publicly traded bonds circulating in the capital markets.trade arab news agency
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