UAE – Mubasher: Dubai Aerospace Enterprise (DAE) has obtained a senior unsecured revolving credit facility agreement worth $1 billion with a renewal option, according to a press release.
The loan holds a four-year tenor from its signing date on 31 March 2022.
Al Ahli Bank of Kuwait (ABK), Emirates NBD Capital, and First Abu Dhabi Bank (FAB) served as the initial mandated lead arrangers and bookrunners, while Emirates NBD was the facility agent for the loan deal.
DAE would use the proceeds of the facility for general corporate purposes and working capital requirements while refinancing its existing syndicated funding facilities.
CEO of DAE, Firoz Tarapore, said: “The successful closing of the facility is testament to the continuous support and confidence that banks have shown to DAE and its future outlook. This facility will enable us to continue to optimise our liquidity planning and grow our business.”
