Dubai Aerospace Enterprise (DAE) a global aviation services company, has announced the signing of a US$420 million five-year unsecured term loan with China Construction Bank (DIFC Branch) and China Construction Bank (Asia) Corporation Limited (CCB). This financing initiative aims to support DAE's future financial requirements.
Firoz Tarapore, CEO of DAE, expressed his satisfaction with the transaction, emphasising the reinforcement of its robust relationship with one of the world's premier banking institutions. Tarapore highlighted the loan's role in enhancing DAE's substantial liquidity, which amounted to US$4.1 billion by the close of 2023. He extended gratitude to CCB DIFC Branch and CCB (Asia) for their unwavering support and anticipated further collaboration with CCB.
Yuan Shengrui, Senior Executive Officer at China Construction Bank (DIFC Branch) said: “CCB DIFC Branch is delighted to collaborate again with DAE, a globally significant enterprise in the aviation sector. We are dedicated to maintaining a customer-centric approach, leveraging CCB Group's competitive advantage in the financial market and continue to strive to provide DAE with a more diverse range of financial products and services.” (£1.00 = US$1.27 at time of publication).
