Dubai aviation firm DAE secures $1.6b in new loans, its biggest ever

Dubai aviation firm DAE secures $1.6b in new loans, its biggest ever

DAE has emerged strongly as the global aviation industry staged a fast and full recovery from the pandemic. In recent times, the Dubai firm has been busy adding to its fleet.

Image Credit: WAM







Dubai: The Dubai owned aircraft leasing firm DAE has secured financing totalling $1.6 billion from 26 lenders, and making this the biggest loan financing raised by the company. DAE – or Dubai Aerospace Enterprise – had been in the thick of recent deal-making to expand on its fleet, including a major one recently with a Chinese firm.



The $1.6 billion is secured via multiple tranches, structured as a ‘combination of revolving credit facilities and term financing facilities’. HSBC and J.P. Morgan were joint book-runners and joint mandated lead arrangers.







“The closing of these facilities, as well as the upsizing and oversubscription, underscores the support and confidence that banks have shown in DAE and its future growth prospects,” said Firoz Tarapore, CEO of DAE. “The facilities will allow DAE to maintain its exceptional liquidity and support the financing requirements of our recently announced order book acquisition.”



The funding allows DAE to tap Islamic banking