According to Emirates News Agency, the company explained that since the program started in mid-2018, the company has repurchased approximately $ 485 million of the principal amount of the bonds and has a mandate to repurchase other bonds valued at approximately $ 115 million.
Firoz Tarapur, CEO of Dubai Aerospace Industries, said that the current trading levels of our bonds are inconsistent with the strength of our balance sheets, credit ratings and liquidity status with the company and we currently have five segments of outstanding debt and while long-term maturities are the most undervalued bonds we intend Repurchase bonds available in each segment at appropriate price levels.
It is noteworthy that Dubai Aerospace Industries currently has approximately $ 2.8 billion of bonds outstanding in US financial markets.
