JIRA Sprint Event is not being displayed as All Day Event in Apple Calendar App Week View

Summary

If you add a JIRA Sprint Event in Team Calendar, the event is showing as All Day event in Team Calendar Week View.
However it is not showing as All Day event in Apple Calendar App Week View

Steps to Reproduce

1. Add a sprint event with Sprint Duration 30/Dec/16 9:40 PM•09/Jan/17 9:40 PM PM in JIRA
2. Create a new event in Confluence's Team Calendar, and add the sprint created above
3. Switch to Week View. Team Calendar is showing the event as an "All Day" event:
   
4. Go to Apple Calendar App and subscribe to this calendar
5. Go to Week View

Expected Results

Event is displayed as "All Day" event, just like it's being displayed in Team Calendar

Actual Results

The event is being displayed as an "hourly" event and sometimes block the view of other events: