State-owned district cooling company Tabreed lined up a AED 1.8 bn shariah-compliant debt facility from our friends at Mashreq alongside Emirates NBD, to fund M&As and strengthen its balance sheet, it said in a filing (pdf) to the DFM. The six-year loan, split between AED and USD tranches, includes AED 1 bn in green financing.

REMEMBER- Earlier this month, CEO Khalid Al Marzouqi mentioned that Tabreed is exploring investment windows in the data center sector, citing strong growth possibilities driven by the industry’s heavy reliance on advanced cooling systems, adding that they will use various financing tools and support from key partners Mubadala and Engie to fund its expansion. It is also assessing other potential growth areas, including cooling services around Dubai’s upcoming Al Maktoum International Airport. It recently completed its acquisition of PAL Cooling Holding in a transaction worth an equity value of AED 3.8 bn.

Market reax: Tabreed’s shares rose 0.3% to AED 3.06 at yesterday’s close.

OTHER DEBT NEWS-

Emirates NBD is also handing Indian carrier IndiGo an aircraft finance lease facility to fund the acquisition of two Airbus A321neo aircraft, as per a pressrelease. This comes as the largest Indian airline expands aggressively to meet rising demand and scale routes — with some 58 aircraft added in 2024 alone. The carrier has a fleet of over 400 aircraft, operates 2.2k daily flights, and has accommodated 118 mn passengers in FY 2025.

Plenty of UAE ties to IndiGo: The Abu Dhabi Investment Council was among IndiGo’s anchor investors in its 2015 IPO. Dubai Aerospace Enterprise leased seven Airbus A321neo jets to IndiGo in 2021, as per a separate press release.

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