Dubai-based lender Emirates NBD said it signed a $750 million five-year dual tranche financing facility with Emirates airline.
The transaction, signed on 30 September, is the first sales-receivable backed financing structure for the airline and is aimed to diversify their liquidity pool, the lender who acted as book runner and lead arranger, said in a statement on Tuesday.
Emirates, which reported an annual $5.5 billion loss due to the suspension of flights, is like other Gulf airlines looking to resume normal operations leveraging the improving outlook for international travel. Dubai opened its doors to travel and tourism and kicked off its long-awaited World Expo fair this month.
(Writing by Brinda Darasha; editing by Daniel Luiz)
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