Subscribe Free
in Business Aviation

DAE signs a new US$720 million revolving credit facility

Posted 15 November 2018 · Add Comment

Dubai Aerospace Enterprise (DAE) has signed a new unsecured US$720 million revolving credit facility with a group of nine international banks based in US, Europe and Asia. The credit facility has a maturity of five years.

 

Firoz Tarapore, chief executive officer of DAE commented: “This new revolving credit facility will significantly boost our liquidity profile and accord us enhanced flexibility to act expeditiously on market opportunities to acquire assets and grow our business. In October, DAE received its first investment grade rating of BBB+ and this strengthening of our liquidity profile and overall financial position is consistent with our publicly stated intent of achieving investment grade ratings from all major credit rating agencies.”

* required field

Post a comment

Other Stories
Advertisement
Latest News

Abu Dhabi Airports kicks off Safety Week

Abu Dhabi Airports has kicked off this week its annual Safety Week with a series of activities designed to increase awareness of aviation safety standards and best practices among its employees and airport stakeholders.

Emirates takes delivery of its last Boeing 777-300ER aircraft

Emirates has received the final Boeing 777-300ER aircraft on its order books.

Virgin Galactic completes historic first spaceflight

History was made yesterday as Virgin Galactic’s SpaceShipTwo, VSS Unity, landed from her maiden spaceflight.

Why Etihad turned tail on partnerships

Etihad Airways is looking closer to home for growth as it plots a new course following major problems at some of its equity partner airlines. Alan Dron reports.

MEBAA conference covers interesting and key topics

In future, business aviation will be as ubiquitous as driving a car – according to Badr Al-Olama, Head of Aerospace, Mubadala Investment Company, who delivered a dramatic vision of the sector’s future in a keynote speech at the second day

Royal Air Maroc welcomes first GEnx-powered Boeing 787-9 Aircraft

Royal Air Maroc (RAM) has received its first GEnx-1B-powered Boeing 787-9 Dreamliner aircraft. RAM will eventually operate a fleet of nine GEnx-powered B787 Dreamliners.

TAA SK0902311218
See us at
ACCA19_BT2141218280219AIME19BTA3005120219Aviation Africa BT0607280219SaudiAirshowBT0711140319