Dubai Aerospace Enterprise (DAE) Ltd, a global aviation services company, has announced that it has signed agreements to enter into new long-term, unsecured revolving credit facilities worth US$2.8 billion.
The new facilities replace an existing US$1.4 billion facility, and the maturity date of the new facilities is March 2031. The addition of the new facilities increases DAE’s revolving credit facility capacity to approximately US$4 billion.
The new revolving credit facilities comprise both United States Dollar and United Arab Emirates Dirham commitments totalling US$2.3 billion in conventional funding and US$0.5 billion in Shari’a-compliant liquidity from 15 global financial institutions. Emirates NBD and First Abu Dhabi Bank acted as Initial Mandated Lead Arrangers on the conventional facility, and Abu Dhabi Islamic Bank acted as Mandated Lead Arranger on the Shari’a-compliant facility.
