Dubai Aerospace secures $300mln five-year financing deal

The facility will contain a conventional and an Islamic tranche and can be upsized to $600mln

  
DAE’s new Boeing 737 MAX 8.

DAE’s new Boeing 737 MAX 8.

DAE/Handout via Thomson Reuters Zawya

Dubai Aerospace Enterprise (DAE), a top tier aircraft lessor, has signed a $300 million five-year dual tranche unsecured term financing facility with Emirates Islamic and Emirates NBD Capital.

The facility will contain a conventional and an Islamic tranche and can be upsized to $600 million, DAE said in a statement, noting that it will support the future financing needs of DAE’s business.

Salah Amin, Chief Executive Officer of Emirates Islamic commented, “We are committed to support the growth and development of prominent local companies like DAE.” Fahad Al Qassim, Chief Executive Officer of Emirates NBD Capital commented: “Emirates NBD Capital as the global investment bank for Emirates NBD Group is pleased to support DAE in achieving its long-term objectives."

(Writing by Gerard Aoun; editing by Seban Scaria)

( gerard.aoun@refinitiv.com )

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