{"id":77859,"date":"2024-04-08T00:00:00","date_gmt":"2024-04-08T00:00:00","guid":{"rendered":"https:\/\/enterpriseam.com\/logistics\/2024\/04\/08\/dubai-aerospace-enterprise-secures-aed-2-75-bn-loan-from-emirates-nbd\/"},"modified":"2024-04-08T00:00:00","modified_gmt":"2024-04-08T00:00:00","slug":"dubai-aerospace-enterprise-secures-aed-2-75-bn-loan-from-emirates-nbd","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/logistics\/2024\/04\/08\/dubai-aerospace-enterprise-secures-aed-2-75-bn-loan-from-emirates-nbd\/","title":{"rendered":"Dubai Aerospace Enterprise secures AED 2.75 bn loan from Emirates NBD"},"content":{"rendered":"

Emirates NBD extends loan to DAE: <\/strong>Dubai Aerospace Enterprise (DAE) will receive a AED 2.75 bn five-year unsecured term loan with Emirates NBD to support the state-owned firm\u2019s general corporate needs and future financing requirements, according to a statement<\/a> released on Thursday. The AED- denominated loan \u201cwill serve to further strengthen our exceptional liquidity,\u201d DAE CEO Firoz Tarapore said.<\/p>\n

Second round of financing in a month:<\/strong> DAE secured USD 420 mn in funding<\/a> from China Construction Bank (CCB) last month to bolster liquidity. The five-year credit facility was earmarked to support \u201cthe future financing needs of the business,\u201d the firm said. CCB also provided DAE with a four-year USD 300 mn unsecured loan<\/a> in 2020.<\/p>\n

Where\u2019s the money going?<\/strong> DAE is a global aviation services firm with two divisions, DAE Capital and DAE Engineering. DAE Capital is an aircraft lessor with a fleet of some 500 aircraft worth more than USD 17 bn. DAE Engineering provides maintenance, repair, and overhaul services to clients across Europe, the Middle East, Africa, and South Asia.<\/p>\n","protected":false},"excerpt":{"rendered":"

The loan aims to support DAE\u2019s general corporate needs and future financing requirements<\/p>\n","protected":false},"author":1,"featured_media":77860,"comment_status":"","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"newspack_ads_suppress_ads":false,"newspack_popups_has_disabled_popups":false,"newspack_sponsor_sponsorship_scope":"","newspack_sponsor_native_byline_display":"inherit","newspack_sponsor_native_category_display":"inherit","newspack_sponsor_underwriter_style":"inherit","newspack_sponsor_underwriter_placement":"inherit","ep_exclude_from_search":false,"_primary_brand":0,"newspack_featured_image_position":"","newspack_post_subtitle":"","newspack_article_summary_title":"Overview:","newspack_article_summary":"","newspack_hide_updated_date":false,"newspack_show_updated_date":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[166],"tags":[145,165,129],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-77859","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-debt-watch","tag-aviation","tag-debt-watch","tag-uae","wpautop","entry"],"acf":{"mongo_id":"aadb173c-7b56-4463-8a2a-01ab37be7f87","is_powered_by":false,"story_type":"1","photo_url":"https:\/\/ent.news\/2024\/4\/599.jpg","photo_position":"above","homepage_title":"","full_issue_title":"Dubai Aerospace Enterprise secures AED 2.75 bn loan from Emirates NBD","related_issue":[77847],"teaser":"The loan aims to support DAE\u2019s general corporate needs and future financing requirements","voice_url":"https:\/\/s3.us-east-1.amazonaws.com\/ent.news\/audio\/2024\/4\/.161726c9-187c-4a44-88fc-94d14a982102.mp3"},"yoast_head":"\nDubai Aerospace Enterprise secures AED 2.75 bn loan from Emirates NBD - 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