Dubai Aerospace Enterprise (DAE) has signed a US$300 million 7-year unsecured term loan with a group of six banks. Abu Dhabi Commercial Bank served as Initial Mandated Lead Arranger, Bookrunner and Underwriter. The loan will be used to repay secured debt and support the future financing needs of the business.
Firoz Tarapore, Chief Executive Officer of DAE said: “We are pleased to enter into this loan led and arranged by Abu Dhabi Commercial Bank. This incremental unsecured loan further underpins our ambition to structure our funding and liquidity predominantly around unsecured debt. This transaction brings the total liquidity we have raised in the last 18 months to US$3.5 billion. This gives us considerable funding certainty to pursue our aggressive growth agenda.”
