Subscribe Free
in Business & Finance

DAE signs new US$300 million four-year unsecured term loan

Posted 21 January 2020 · Add Comment

Dubai Aerospace Enterprise (DAE) has signed a US$300 million four-year unsecured term loan with China Construction Bank (DIFC Branch) and China Construction Bank (Asia) Corporation.

 

The principal amount of the loan can be increased to $500 million. The loan will support the future financing needs of the business.

 

Firoz Tarapore, chief executive Officer of DAE said: “We are delighted to start the new year 2020 with a meaningful and sizeable transaction with the DIFC branch of one of the world’s leading banking organizations. We look forward to deepening our relationship with CCB in the future.”

 

Yuan Shengrui, senior executive officer at China Construction Bank (DIFC Branch) said: “CCB DIFC Branch is delighted to have been given the opportunity to co-lead this successful transaction. It is a privilege to assist DAE in their financing requirements and we look forward to further collaborations in future.” 

 

“This syndication is the first financing which CCB Group arranged for DAE, and we are pleased to have the opportunity to be involved with closing such a successful deal. It demonstrates that DAE is a well-established borrower, which commands significant interest in both Asia and Middle East banking market. We look forward to continuously leveraging on CCB’s overseas network and resources to deepen our partnership with DAE and promote closer business collaboration in the future.”

Other Stories
Advertisement
Latest News

The airline industry is expected to remain cash negative throughout 2021

The International Air Transport Association (IATA) has released new analysis showing that the airline industry is expected to remain cash negative throughout 2021.

Emirates and Dubai Health Authority to create digital verification of COVID-19 medical records

Emirates and the Dubai Health Authority (DHA) have signed an MoU which aims to position Dubai as one of the first cities in the world to implement digital verification of traveller medical records related to COVID-19 testing and

TAV Airports served 27 million passengers in 2020

Turkey’s TAV Airports has announced its full-year 2020 financial and operational results revealing it served 14.3 million domestic and 12.7 million international passengers in 2020, with a total of 70% decrease compared to the

Embraer’s Phenom 300 becomes world’s best-selling light jet

For the ninth consecutive year, Embraer’s Phenom 300 series has become the world’s best-selling light jet according to numbers released today by the General Aviation Manufacturers Association (GAMA).

Flydubai expands its operations to Romania

Flydubai has launched flights to Cluj-Napoca in Romania. The airline will operate twice-weekly flights between Dubai International (DXB) and Avram Iancu International Airport Cluj (CLJ) starting from 20 March 2021.

IDEX: Collins Aerospace targets Middle East fighter seats

Collins Aerospace is looking at upgrading the F-15 and F-16 aircraft in the Middle East with its next generation ACES 5 ejection seats.

EDGE SK2601300621
See us at
Aviation MENA 2021Aviation Africa 2021 BTNNArab Aviation Summit BT1002230321World Defence Show 2022DAS21_BT