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.”

* required field

Post a comment

Other Stories
Advertisement
Latest News

CAE sees brighter days ahead for training market

CAE, the Canadian simulator manufacturer and training specialist says its defence business has seen delays in contract awards due to the Covid 19 pandemic and the drop in oil prices which has affected sales prospects in the Middle East.

A220 - new kid on the block for the VVIP market?

A project to convert an Airbus A220 into a VVIP or head of state aircraft, targeted for the Middle East market has been announced by a partnership of leading aviation management and design businesses.

$9.9 million pod spares for Saudi Arabia

The US Defense Department has announced the award of a $9.9 million foreign military sales (FMS) contract to Collins Aerospace – a subsidiary of the United Technologies Corporation – for the “purchase of a necessary additional

Kuwait Airways to lose 25% of workforce

Some 1500 ‘foreign staff’ are to lose their jobs with Kuwait Airways. The airline has not yet said which departments will be affected.

Gulf Air imports more than 80 tons of medical supplies in May

Gulf Air has successfully imported 82 tons of medical supplies from India with partner medical suppliers.

737 MAX production resumes

Boeing has resumed production of the 737 MAX at the company’s Renton, Wash. factory.

GAS_SK2805200920
See us at
AVMENA20 BT1309100620MAPS2020 BT1102171120SaudiAirshow21BT2011180221