Home UAE Dubai Dubai Aerospace Enterprise announces closing of $1bn revolving credit facility The facility replaces other ones with near-term maturity dates by Zainab Mansoor April 5, 2022 Dubai Aerospace Enterprise (DAE) Ltd has closed a new 4-year $1bn revolving credit facility with a one-year extension option, it announced today. The latest facility replaces other ones with near-term maturity dates and represents DAE’s first facility that is priced with reference to SOFR. The facility attracted interest from a group of banks and was oversubscribed, a statement said. DAE announces closing of US$1 billion Revolving Credit Facilityhttps://t.co/opzflwtVbo pic.twitter.com/ENWkFXMQvk — DAE (@dubaiaerospace) April 5, 2022 Al Ahli Bank of Kuwait – DIFC Branch, Emirates NBD Capital Limited (EMCAP) and First Abu Dhabi Bank (FAB) served as the mandated lead arrangers and bookrunners. EMCAP also acts as a facility agent for the banking syndicate. Firoz Tarapore, chief executive officer of DAE said, “The successful closing of this facility is testament to the continuous support and confidence that banks have shown in DAE and its future outlook. This facility will enable us to continue to optimise our liquidity planning and grow our business. We look forward to deepening our relationship with these banks in the upcoming years.” Tags Bookrunner Dubai Aerospace Enterprise Revolving Credit Facility 0 Comments You might also like Dubai aircraft leasing firm DAE buys 23 aircraft for $1.1bn Saudi’s PIF secures $15bn loan from global syndicate Dubai aircraft lessor DAE sees China’s COMAC breaking Airbus, Boeing duopoly UAE’s Tabreed secures Dhs600m revolving credit facility