Dubai Aerospace Enterprise (DAE) is receiving a AED 2.75 bn five-year unsecured term loan with Emirates NBD to support the state-owned firm’s general corporate needs and future financing requirements, according to a company statement. The AED- denominated loan “will serve to further strengthen our exceptional liquidity,” DAE CEO Firoz Tarapore said.

About DAE: 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.

ICYMI- DAE secured USD 420 mn in funding from China Construction Bank (CCB) to bolster liquidity, last month. The five-year credit facility was earmarked to support “the future financing needs of the business,” the firm said. CCB also provided DAE with a four-year USD 300 mn unsecured loan in 2020.

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