Abu Dhabi - Mubasher: Sanad, an aerospace engineering and leasing solutions provider, has obtained a new $100 million evergreen revolving credit facility from First Abu Dhabi Bank (FAB).
The new financing deal complements the 10-year relationship between FAB and Sanad, wholly owned by Mubadala Investment Company.
The two UAE-based entities have closed more than $950 million combined agreements to support Sanad’s global spare engine leasing and component access portfolios.
The Group CEO of Sanad, Troy Lambeth, said: "Working closely with each of our banking partners, we have been well-positioned to provide attractive long-term financing solutions to our customers since our launch."
Meanwhile, the Head of Global Banking at FAB, Mohanad Al Borno, commented: "Sanad has established a reputation for excellence in the aviation industry and with this new transaction, we further expand our relationship with Sanad and our confidence in the company’s positioning and future potential."
