Sanad closes $55 million financing deal with CBD

Sanad closes $55 million financing deal with CBD

Picture used for illustrative purpose.



Sanad Capital, a wholly-owned subsidiary of Mubadala Investment Company and the global aerospace engineering and leasing solutions leader, has closed a $55 million debt financing deal with the Commercial Bank of Dubai (CBD), one of the UAE's leading financial institutions.

The first-ever collaboration between Sanad Capital and the Commercial Bank of Dubai will fund the purchase of two new GEnx and XWB engines that were recently acquired through a long-term sale and leaseback agreement.

Troy Lambeth, Group CEO, Sanad said, “Our partnership with the Commercial Bank of Dubai is a strong validation of Sanad Capital's ability to attract liquidity that supports growth targets, especially in the challenging current environment. We look forward to growing our relationship with the Commercial Bank of Dubai as part of Sanad's ongoing commitment to support the global aviation industry in years to come.”  Dr Bernd van