Dubai, UAE – Dubai Aerospace Enterprise Limited announced the signing of agreements to obtain new long-term unsecured revolving credit facilities worth $2.8 billion.
new facilities
The new facilities will replace existing facilities worth $1.4 billion, with the new facilities due in March 2031.
The value of the company’s renewable credit facilities will rise to about $4 billion with the addition of the new facilities.
The new revolving credit facilities consist of commitments in US dollars and UAE dirhams.
With a total of $2.3 billion in traditional financing and $0.5 billion in Sharia-compliant liquidity provided by 15 global financial institutions.
Coordination banks
Emirates NBD and First Abu Dhabi Bank have been appointed as the initial authorized lead coordinator for traditional facilities.
With the appointment of Abu Dhabi Islamic Bank as the authorized chief coordinator for facilities compatible with Islamic Sharia.
By leveraging both traditional and Sharia-compliant financing sources, these agreements confirm DAE’s ability to access liquidity from our local banking partners and a variety of key global financial institutions, said Firouz Tarapur, CEO of Dubai Aerospace Enterprise.
