Dubai Aerospace Enterprise (DAE) has signed a $750 million (AED2.75 billion) 5-year unsecured term loan with Emirates NBD Bank (ENBD).
The loan will be used for general corporate purposes and support the future financing needs of the business.
Firoz Tarapore, Chief Executive Officer of DAE, commented that, “This transaction marks a further deepening of our relationship with ENBD, one of the largest lenders in the UAE, through this Emirati Dirham-denominated term loan. The loan will serve to further strengthen our exceptional liquidity.”
Last year, DAE signed a new multi-tranche financing, structured as a combination of revolving credit facilities and term financing facilities, each comprising of conventional and Islamic tranches (the Facilities) with HSBC and J.P. Morgan acting as Joint Bookrunners and Joint Mandated Lead Arrangers.
DAE
Dubai Aerospace Enterprise is a globally recognized aviation services corporation with two divisions: DAE Capital and DAE Engineering. Headquartered in Dubai, DAE serves over 170 airline customers in over 65 countries from its seven office locations in Dubai, Dublin, Amman, Singapore, Miami, New York, and Seattle.
DAE Capital is an award-winning aircraft lessor with an owned, managed, and committed fleet of approximately 500 Airbus, ATR, and Boeing aircraft with a fleet value exceeding $17 billion.
DAE Engineering provides regional MRO services to customers in Europe, the Middle East, Africa, and South Asia from its state-of-the-art facility in Amman, Jordan, accommodating up to 17 wide and narrow-body aircraft. It is authorized to work on 15 aircraft types and has regulatory approval from over 25 regulators globally.
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