Subscribe Free
in Business & Finance

DAE signs US$535 million unsecured revolving credit facility

Posted 13 December 2018 · Add Comment

Dubai Aerospace Enterprise (DAE) has signed a new four-year unsecured revolving credit facility arranged by Emirates NBD as sole Mandated Lead Arranger and Bookrunner.

 

The initial commitment of US$535 million is from a group of eight regional banks. The accordion feature allows the facility to be increased to up to US$600 million at any time after the initial closing. The facility will support the future financing needs of the business.

Firoz Tarapore, chief executive officer of DAE said: “We are pleased to sign this facility with Emirates NBD, a leading bank in the UAE and the Middle East. This facility reinforces the strong availability of liquidity in the market and the confidence in DAE’s strategy and reputation. The addition of this facility substantially enhances our financial flexibility and provides yet another element of diversification to our funding strategy.”

* required field

Post a comment

Other Stories
Advertisement
Latest News

Gulfstream outfits 300th aircraft with Jet ConneX

Gulfstream Aerospace has outfitted an industry-leading 300th aircraft with Jet ConneX, the inflight broadband service.

Aviation and aerospace leaders welcome students from Future Scientists initiative

The Future Scientists initiative, a joint venture between Al Bayt Mitwahid Association in collaboration with Airbus, provided students with a world-class, interactive learning experience for bright, young talented students based

Emirates to be official partner and airline for West Asian Football Federation Championship

Emirates has announced an agreement which will see it as the Official Partner and Airline for the ninth edition of the West Asian Football Federation Championship, taking place in Erbil and Karbala, Iraq from 2-14 August 2019.

Qatar Airways to launch direct flights to Gaborone

Qatar Airways is to launch a new service to Gaborone, Botswana, starting 27 October 2019. The capital and largest city of Botswana will be the airline’s first destination in the African country.

Etihad Airways introduces nutritional education programme to Nepal school

Children of the Azizia Madrasa enjoyed a tasty morning as they learnt a fundamental skill to last them a lifetime, cooking healthy, nutritious meals using locally sourced, low cost ingredients.

Moroccan start-up sets out its stall

Operating since 2018, Morocco’s Sarah Airways is concentrating on VIP transport and medical evacuations – both growing markets in Morocco.

Luxivair SK2404240719
See us at
MEBCONBT1607240919DIAC19_BT264161119MEBAAMORBT2006260919Dubai AS BT2006211119