UAE – Mubasher: Dubai Aerospace Enterprise (DAE) Limited has signed agreements to enter into new long-term, unsecured revolving credit facilities worth $2.80 billion.
Replacing an existing $1.40 billion facility, the new investment will mature in March 2031, according to a press release.
The addition of the new facilities increases DAE’s revolving credit facility capacity to $4 billion.
The new revolving credit facilities include both USD and AED commitments, adding up to $2.30 billion in regular funding and $500 million in Sharia-compliant funds from 15 global banks.
Emirates NBD and First Abu Dhabi Bank (FAB) acted as initial mandated lead arrangers, bookrunners, and coordinators on the conventional facility.
Meanwhile, Abu Dhabi Islamic Bank (ADIB) acted as the mandated lead arranger on the Sharia-compliant facility.
Firoz Tarapore, CEO of DAE, said: “By tapping both conventional and Shari’a-compliant sources of funding, this transaction underscores DAE’s exceptional access to liquidity from both our local banking partners and a globally diversified group of leading financial institutions.”
