DAE signs new 5-year unsecured term loan with Emirates NBD

DAE signs new 5-year unsecured term loan with Emirates NBD

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 […]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