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

Gulf Air awarded as Fastest Growing Airline in Middle East

Gulf Air was recently awarded as the Fastest Growing Airline in the Middle East region at the 19th Airline Marketing Workshop organised by Athens International Airport in the Greek capital.

We must not loose our free spirit...

Fuel prices, the need for infrastructure to keep pace with airline growth, and the dangers of protectionism, were among the topics at the annual meeting of the Arab Air Carriers Organization (AACO) in Cairo. Alan Dron reports.

Airport Show to showcase innovative solutions for Smart Airports

The Airport Show - being held 29 April to 1 May at the Dubai International Convention and Exhibition Center (DICEC) - will be providing a new dedicated area for small companies to showcase their innovative solutions, called the Airport

UAE Space Agency announces details of 813 satellite

The UAE Space Agency has announced details of the new 813 satellite, which was launched by His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai, as a gift from the UAE to the Arab

Oman Air ranks first in Heathrow Airport’s ‘Fly Quiet and Green’ Q4 2018 league table

Oman Air has been recognised as the cleanest and quietest carrier in contributing to the reduction of the noise footprint at UK’s Heathrow Airport, as per the Fly Quiet and Green chart published by LHR airport authorities.

Etihad Airways and Elenium to showcase voice activated self-service kiosk

Etihad Airways and Elenium, a provider of automation technology solutions, will together demonstrate how a newly developed voice activated self-service kiosk, bag drop and boarding gate facility will revolutionise the travel

Connect MEIA SK1402010519
See us at
ACCA19_BT2141218280219Connect MEIA BT1402010519